The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Germany, the United States, Brazil, China, Singapore
Sector
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture Of Chemicals And Chemical Products
200 jobs Number of planned job losses
Announcement Date
6 March 2024
Employment effect (start)
6 March 2024
Foreseen end date
Description
The German chemicals and pharmaceuticals group Bayer has announced that it will cut 200 jobs worldwide.
The company is to close its in-house business consultancy and layoff the majority of the unit’s staff. Under the programme, Bayer is to close offices in Germany, the United States, Brazil, China and Singapore. The company anticipates a cost reduction of €2 billion from 2026, which corresponds to around a fifth of the operating profit planned for 2024.
Bayer operates in 80 countries and employs about 99,700 people worldwide.
Eurofound (2024), Bayer, Internal restructuring in World, factsheet number 201033, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201033.
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