Bayer To Cut 6,100 Jobs Worldwide In Consolidation

The Associated Press




March 4, 2007

FRANKFURT, GERMANY — Drugmaker Bayer AG said Friday that it will cut 6,100 jobs, or 5.5 percent of its work force, as it integrates Schering AG into its health care unit. More than half of the cuts will be in Europe, but about 1,000 positions will be eliminated in the United States.

Bayer acquired Schering last year in a 16.9 billion euro ($22.4 billion) deal and said it would have to cut thousands of jobs as the two companies combined operations. However, it left the details open until Friday.

Bayer employed about 100,200 people as of the end of 2006.

Bayer said the cuts would include 3,150 jobs in Europe, with 1,500 of those going in Germany. In addition to the U.S. cuts, another 1,200 jobs will be cut in Canada and Latin America and 750 in Asia.

Bayer said that 2,850 administrative jobs will go, while 1,400 research and development positions are to be cut along with 1,850 production jobs.

http://www.clarionledger.com/apps/pbcs.dll/article?AID=/20070304/BIZ/703040353/1005

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