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Bayer's CEO announced a significant restructuring aimed at reducing bureaucracy and enhancing agility, resulting in a drop in voluntary attrition despite 5,500 layoffs. The company is transitioning to self-directed teams and reallocating budgets every 90 days, with hopes of revitalizing its operations by 2025. However, Bayer faces substantial challenges, including a 44% drop in market cap, €34.5 billion in debt, and looming competition for its top drug, Xeralto, as exclusivity ends in 2026.
Liam Anderson
People
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bayer implements major layoffs and restructuring to boost efficiency and agility
13:12 24.12.2024
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