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Bayer plans to cut 12,000 jobs and exit its animal health business

Staff Writer | December 4, 2018
The German company announced a rash of moves, including exiting the sun-care and foot-care segments, that it said would boost its core pharma and agricultural businesses.
Bayer workers protest
Europe   Bayer workers protest
The cuts, including a significant number in Germany — where layoffs are politically sensitive — represent about 10 percent of the workforce. The shares fell 2.3 percent as of 5 p.m. in Frankfurt trading, erasing initial gains after the announcement.

Of the 12,00 job cuts, half will probably come from corporate and supporting functions while another third will be in crop science as the Monsanto integration proceeds, Bayer said. Another 1,250 positions will probably come from pharmaceuticals — with 350 related to a new facility in Wuppertal, Germany. Another 1,100 will be cut in Bayer’s consumer health division. Baumann repeatedly declined to say how many of the reductions would be in Germany overall.

Employees of multinational pharmaceutical company Bayer protested Monday over job cuts and the closure of the firm's plant in the western German city of Wuppertal, an epa-efe photojournalist reported.

Workers gathered outside the plant with banners and placards denouncing measures that would see "a significant number" of jobs being lost in Germany.


 

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