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Web Date: March 2, 2007

Bayer Details Layoffs

Integration of Schering will cost 1,000 U.S. jobs
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. The news caps a week of cutbacks in the pharmaceutical industry.

When Bayer swept in to rescue 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 . . .

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