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Volume 85 Issue 11 | p. 20 | Concentrates
Issue Date: March 12, 2007

Bayer Details Job Cuts

Department: Business

Bayer has provided more detail about the roughly 6,100 layoffs it plans over the next two years as part of the integration of fellow German drugmaker Schering AG. When Bayer rescued Schering from a hostile bid from Merck KGaA last spring, it acknowledged that about 10% of the combined pharmaceutical staff of roughly 60,000 would be shed. The company aims to save about $925 million annually when the consolidation is completed in . . .

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