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Bayer to Cut Another 4700 Jobs

Sep 13 2002

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Bayer have announced that they will reduce their global workforce by a further 4700 positions by 2005. This action has been taken to align production capacities and optimise its cost structures due to the current economic climate and increasing international competition.

A while back, Bayer announced plans to reduce their numbers by 10,300 (including 1,800 positions that had already been lost) over the next four years. Factors leading to this decision include: synergies created by the acquisition of Aventis CropScience; reductions due to the withdrawal of cholesterol-lowering drugs; and other factors.

Of the additional jobs to be cut, 40% will be from Bayer AG in Germany. Details of exactly where the reduction will take place are yet to be made available.

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