Bayer cut 4,700 jobs

9 October 2002

IN RESPONSE TO the global economic situation and increasing international competition, the Bayer Group are to cut another 4,700 jobs worldwide by 2005. Some time ago, Bayer announced that the global headcount would be reduced by 10,300 over the next four years - including 1,800 positions already eliminated - as part of the current restructuring programmes. The reorganization of the group and the current state of the world economy make it necessary to abolish an additional 4,700 positions, of which 40% will be at Bayer AG in Germany. Details of how the job cuts will be implemented are to be worked out in close consultation with employee representatives. Management board chairman Werner Wenning said: 'This action is unfortunately essential in order to maintain Bayer's competitiveness in these difficult times and pave the way for sustained growth.'

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