London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Bayer to cut 12000 jobs; exit animal health business

December 03/2018

MOSCOW (MRC) -- Bayer plans to exit animal health business, consumer health brands Coppertone and Dr Scholls, and cut 12,000 jobs worldwide. The company also plans to sell its 60 percent interest in Currenta, a JV with Lanxess, as per Worldofchemicals.

The company aims to strengthen its core life science businesses following the takeover of Monsanto. The job cuts are expected to be complete by the end of 2021 and a significant number of them is in Germany, the company said.

The job cuts will include approximately 900 jobs in pharmaceuticals R&D and around 350 positions in connection with the factor VIII facility in Wuppertal; roughly 1,100 jobs associated with the reorganization at consumer health; around 4,100 positions at crop science as the result of combining Monsanto; and a further 5,500 to 6,000 jobs in the corporate functions.

In addition to the planned portfolio measures, Bayer said that it intends to significantly improve its cost structure. The company aims to further strengthen innovation and productivity, to accelerate access to future technologies, and to further enhance competitiveness and profitability. In this context, the company will seek to achieve greater efficiency across its supporting functions and services.

Including the synergies expected from the acquisition of Monsanto, Bayer anticipates annual contributions of 2.6 billion from 2022 on as a result of its planned efficiency and structural measures.

These changes are necessary and lay the foundation for Bayer to enhance its performance and agility. With these measures, we aim to take full advantage of the growth potential for our businesses. We are aware of the gravity of these decisions for our employees. As in the past, we will implement the planned measures in a fair and responsible way, said Baumann.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Bayer.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe