As part of the plan, there is to be a reduction of 3,150 jobs in Europe. In addition, 1,000 jobs in the USA, 750 jobs in the Asia, Pacific and Japan region as well as 1,200 jobs in Latin America and Canada are affected.
Bayer said the cuts would come from all areas of its business including research and development, production, central administration as well as local and regional structures.
Bayer said the cuts were also intended to create slimmed down and efficient structures and do away with double functions and overlaps. The goal is thus to strengthen innovation and growth and as a result to increase profitability.
The company believes it will save E700 million annually as a result of the reductions.
“We said right from the start of the integration that job cuts would be necessary in order to achieve the synergy targets. These essential streamlining measures are to be fairly implemented in a socially acceptable process – balanced across the globe,” said Werner Wenning, chairman of the Bayer AG Group Management Board.