In a get together on Thursday , the Supervisory Board of Bayer AG discussed the plans laid out by the Board of Management and unanimously express their supporting . “ We have made very practiced progress with Bayer ’s strategic evolution in recent years . As we now proceed with these measuring , we are put down the foundation to sustainably enhance Bayer ’s performance and profitability , ” said Werner Baumann , Chairman of the Board of Management of Bayer AG . “ With these measure , we are positioning Bayer optimally for the future as a life scientific discipline company . ”
rivet on core life science businessesBayer designate to get on the portfolio step in 2019 . The company intend to exit the Animal Health business and is assessing available option . Bayer intends to apportion the investment resources necessary to support Animal Health to Bayer ’s core business of Pharmaceuticals , Consumer Health and Crop Science .
In addition to the previously harbinger divestment of ethical drug dermatology production , Bayer will review its strategical options in the coming months with a view to buy the farm the sun upkeep ( Coppertone ) and foot care ( Dr. Scholl ’s ) product lines .
12,000 jobs cutIncluding the synergism expected from the acquisition of Monsanto , Bayer anticipates annual contribution of 2.6 billion euros from 2022 on as a result of its planned efficiency and morphological measures . These measures will let in a step-down of around 12,000 of 118,200 jobs worldwide , a significant issue of them in Germany . Details will be work out in the month ahead . The total one - time cost relate to these measures are expected at a factor of 1.7 times the one-year part . A portion of the freed - up funds are set to be used to tone design and competitiveness at the divisions . “ Through the end of 2022 alone , we aim to commit a sum of around 35 billion euro in our company ’s future , with research and development ( R&D ) calculate for over two thirds of this shape and upper-case letter expenditures for just under one third , ” Baumann said .
The reduction of around 12,000 job worldwide by the remnant of 2021 is accounted for by the various measuring as follow : at Pharmaceuticals , about 900 job in R&D and around 350 military position in connective with the broker VIII facility in Wuppertal ; just about 1,100 jobs associated with the reorganisation at Consumer Health ; around 4,100 positions at Crop Science as the issue of integrate the acquire agriculture occupation ; and a further 5,500 to 6,000 jobs in the Corporate Functions , supporting office , Business Services and country platform .
Crop ScienceAt the Crop Science Division , the stress is on successfully integrate the acquire business . As antecedently commune , Bayer expects synergy to rescue yearly contributions of 1.04 billion euros ( 1.2 billion U.S. dollars ) to EBITDA before special items as of 2022 . This figure , which comprises 0.87 billion euros ( 1 billion U.S. dollars ) in toll synergies , is let in in the part aim outline above .
“ These changes are necessary and lay the foundation for Bayer to enhance its performance and agility . With these measures , we direct to take full advantage of the increment potential for our businesses , ” said Baumann . “ We are cognizant of the gravity of these decision for our employees . As in the yesteryear , we will implement the plan measures in a fair and responsible for path . ”
