Bayer’s New CEO to Cut Management Jobs in Bid for Turnaround
- Ill-fated Monsanto purchase has weighed on stock for years
- CEO has yet to decide about possible breakup of conglomerate
This article is for subscribers only.
Bayer AG laid out plans for sweeping changes including significant job cuts in its managerial ranks, as new Chief Executive Officer Bill Anderson seeks to revive the crisis-rattled company.
Workers supported the establishment of a new operating model that will mean eliminating “many managerial employees,” with the job cuts beginning in the coming months and ending in 2025, according to a statement late Wednesday.