BAYZF - Bayer CEO Resists Full Tri-Split German Conglomerate Cuts Management Jobs In The Face Of Q3 Loss | Benzinga
Bayer AG (OTC: BAYRY) (OTC: BAYZF) CEO Bill Anderson announced plans to streamline its operations by cutting back on management levels. This decision is expected to lead to considerable reductions in staff. However, Anderson dismissed the possibility of dividing the conglomerate into three separate entities.
"By the end of next year, Bayer will remove multiple layers of management and coordination," he said. Even though this will include a significant reduction in the workforce, it is not a traditional cost-cutting program, Anderson added.
"In terms of structural options, beyond maintaining three ...