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Bayer has confirmed plans to cut 6100 jobs globally.
Bayer has confirmed plans to cut 6100 jobs globally — 5.5% of its global workforce. The integration of the former Schering AG (Germany) with the pharmaceutical division of Bayer Healthcare is predicted to result in annual savings of €700 million from 2009.
Europe is to be the most affected by the cuts, with a loss of 3150 jobs. In addition, 1000 jobs in the US, 750 jobs in Asia Pacific and Japan, and 1200 jobs in Latin America and Canada are set to go. Of these, approximately 1400 will be in global R&D, and 1850 in production by 2009. Around 21850 positions in central administration and local and regional structures will also be reduced.
"We want to create an internationally successful pharmaceutical company with competitive cost structures," said Werner Wenning, chairman of the Bayer AG group management board and the supervisory board of Bayer Schering Pharma, explaining the motivation behind the cuts. "These essential streamlining measures are to be fairly implemented in a socially acceptable process — balanced across the globe."The measures are intended to "create slimmed down and efficient structures and do away with double functions and overlaps," the company argued in a statement. The goal is to strengthen innovation and growth in the company, thereby increasing profit.