Bayer’s CEO cut managers by 70%. Now comes the hard part

Bayer's CEO, Werner Baumann, has announced a significant restructuring plan, aiming to cut 70% of its management positions. This move is part of the company's efforts to streamline its operations and reduce costs. The changes are expected to be implemented by the end of 2024.

The pharmaceutical giant has been facing challenges in recent years, including legal issues related to its acquisition of Monsanto and the COVID-19 pandemic. This restructuring is seen as a strategic move to improve Bayer's competitiveness in the global market.