Bayer to cut 12000 jobs
As it integrates Monsanto businesses, Bayer will eliminate around 10% of its global workforce
International chemicals giant Bayer plans to cut 12,000 jobs, including a significant number in Germany, as part of plans to focus on its core life science businesses. The number represents almost a tenth of its 118,000-strong workforce.
While the majority (up to 6000) of the jobs to be axed are in corporate functions, 4100 will be lost in the crop science division as the company focuses on ‘successfully integrating the acquired business’ of Monsanto, a $63 billion deal finalised in June that made Bayer the world’s largest agrochemicals and seed maker. It will cut 900 jobs in pharmaceuticals R&D and around 350 positions at the newly built factor VIII manufacturing facility in Wuppertal, Germany, which will be sold off. A further 1100 will go following a reorganisation of its consumer health division.