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Bayer is cutting 12,000 (1/10) jobs in the wake of its Monsanto deal
The chemicals and pharmaceuticals group said it would cut 12,000 jobs out of its global workforce of 118,000 by the end of 2021. A significant number of the reductions will be made in its home market of Germany.
Bayer (BAYRY) spent over $60 billion buying Monsanto. To gain regulatory approval for the deal, Bayer agreed to sell assets including its seed business and some herbicide brands.
The German company said in a statement on Thursday that it was considering whether to sell more assets, including the sunscreen business Coppertone and footwear brand Dr. Scholl's.
https://amp.cnn.com/cnn/2018/11/29/business/bayer-job-cuts-monsanto/index.html
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