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Latest Business News

Bayer to Cut 6,100 Jobs Worldwide

Friday, March 02, 2007 6:45:16 PM

Arthur J. Higgins, chairman of Bayer Schering Pharma company, speaks during a press conference in Berlin, Germany, Friday, March 2, 2007. Drugmaker Bayer AG said Friday that it will cut 6,100 jobs, more than half of them in Europe, as it integrates Schering AG into its health care unit. (AP Photo/Michael Sohn)FRANKFURT, Germany (AP) - The drugmaker Bayer AG said Friday that it will cut 6,100 jobs, or 5.5 percent of its work force, as it integrates Schering AG into its health care unit. More than half of the cuts will be in Europe, but about 1,000 positions will be eliminated in the United States.

Bayer acquired Schering last year in a 16.9 billion euro ($22.4 billion) deal and said it would have to cut thousands of jobs as the two companies combined operations. However, it left the details open until Friday.

Bayer employed about 100,200 people as of the end of 2006.


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