 |
 |
||||||
[September 2002]
Bayer to Cut a Further 4,700 Jobs Worldwide
The Bayer Group (Leverkusen, Germany) announced on 12 September 2002 that it will be taking further action at global level to align production capacities and optimise its cost structures in the face of the economic situation and increasing international competition. As a result, another 4,700 jobs are to be cut world-wide by 2005.
Some time ago, Bayer had announced that global headcount would be reduced by 10,300 over the next four years - including 1,800 positions already eliminated - as part of the current restructuring programmes, the realisation of synergies from the acquisition of Aventis CropScience and the employment reductions in Pharmaceuticals that are due to the withdrawal of Lipobay/Baycol and other factors.
The reorganisation of the group and the current state of the world economy make it necessary to abolish an additional 4,700 positions, of which 40% will be at Bayer AG in Germany. Details of how the job cuts will be implemented are to be worked out in close consultation with the employee representatives.
The Bayer Management Board Chairman Werner Wenning said: "This action is unfortunately essential in order to maintain Bayer's competitiveness in these difficult times and pave the way for sustained growth"
ENDS