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Berlin, Germany (Mar. 2)-Estimating it would save approximately EUR 700 million ($917.7 million), Bayer HealthCare will integrate the activities of its Pharma division with those of the former Schering AG, Germany.
Berlin, Germany (Mar. 2)-Estimating it would save approximately EUR 700 million ($917.7 million), Bayer HealthCare (www.bayerhealthcare.com) will integrate the activities of its Pharma division with those of the former Schering AG, Germany. The company has confirmed the action would eliminate nearly 6100 jobs worldwide, including 1000 in the United States and 3150 in Europe. Some 1850 production positions and 1400 global research and development functions will be cut by 2009.
Bayer Healthcare officials state the action is intended to “create slimmed down and efficient structures and do away with double functions and overlaps.”
“We said right from the start of the integration that job cuts would be necessary in order to achieve the synergy targets,” said Werner Wenning, chairman of the Bayer AG Group Management Board and the Supervisory Board of Bayer Schering Pharma. “These essential streamlining measures are to be fairly implemented in a socially acceptable process, balanced across the globe. This includes the reduction of the number of locations, cutting down on structural and personnel overcapacity, the concentration of research and development activities as well as the harmonization of structures and processes in marketing and administration.”