Downsizing by 2021. A large part of the redundancies will take place in Germany, in the agrochemical and administrative sector
CSR News - 29 November 2018
Bayer, the German chemical and pharmaceutical giant, announced Thursday that it will cut 12,000 jobs worldwide. Almost half of these positions will be eliminated in the administrative services sector, 4,100 in the agrochemical division (a result of the marriage with Monsanto), 1,250 in pharmaceuticals and 1,100 in the production sector of 
non-prescription drugs. Furthermore, a large part of the cuts will take place in Germany.
"These changes are necessary and will lay new foundations for Bayer, enabling it to improve its performance and flexibility," said Leverkusen group boss Werner Baumann.
The multinational also said it would divest its animal health division, and it would review its strategic options regarding Coppertone sunscreens and its Dr. Scholl foot care products.
Bayer this year bought Monsanto for $63 billion, the US giant of GMOs and producer of, among other things, the controversial glyphosate.
Bayer's shares are down more than a third this year, in part on concerns about the company's exposure to lawsuits involving Roundup, a weedkiller manufactured by Monsanto.
In August, jurors in San Francisco ordered Bayer to pay $289 million in damages to a patient who claimed his terminal cancer was caused by the glyphosate-containing product.
The damages were later reduced by a judge, but hundreds of other patients have made similar claims. Monsanto said the product is safe when used as directed.
Note
Werner Baumann, 56, Chairman of the Board of Management & CEO, Bayer Aktiengesellschaft, received in the fiscal year 2017 a total compensation of € 3,832,000 [source Bloomberg]
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