The global workforce will be reduced by approximately 10%.
In a move to “enhance its performance and agility,” Bayer announced that by the end of 2021 it will implement 12,000 job cuts –– about 10% of its global workforce. In the pharmaceutical business, approximately 900 jobs in R&D and 350 positions at the factor VIII facility in Wuppertal will be eliminated. In the Consumer Health division, about 1,100 jobs will be cut as part of a reorganization. The Crop Science business will see larger job cuts, with approximately 4,100 positions eliminated as the recently acquired Monsanto agriculture business is integrated. The largest number of cuts will occur in corporate functions, with elimination of 5,550 to 6,000 jobs in supporting functions, Business Services and country platforms.
In addition to the job cuts, the company will exit the Animal Health business and invest the proceeds and ongoing savings into its Pharmaceuticals, Consumer Health and Crop Science activities. It is also exploring further reductions in its Consumer Health division beyond the divestment of its prescription dermatology products, which was previously announced. Eliminating both the sun care (Coppertone) and foot care (Dr. Scholl’s) product lines is on the table as means for improving profitability. Bayer is also expected to divest its 60% interest in German site services provider Currenta.