Bayer mulling job cuts after R&D review: report

The pharma group is allegedly taking a closer look at additional restructuring

Bayer mulling job cuts after R&D review: report

As pharmaceutical company Bayer continues its review of research and development activities, the prospect of job cuts and outsourcing to cheaper contractors has resurfaced.

Word of a massive reorganisation first emerged in May when German publication Wirtschaftswoche reported that up to 1,000 jobs would likely to be axed as part of an overhaul.

The company is taking a closer look at R&D initiatives to see if additional restructuring is needed and whether outsourcing would prove to be an option.

These strategic moves are expected to give Bayer a chance to stay competitive and respond to increasing pressure from investors to begin licensing deals or snapping up new assets, Reuters reported.

Labour experts who are said to be concerned about possible job losses and outsourcing are purportedly taking part in the review, which is expected to end in November.

Until then, any drastic move would likely be put on hold.

The personnel shifts began when Bayer reorganised its R&D unit under Joerg Moeller, then its global development head, after the departure of Andreas Busch who led drug discovery for the company. Moeller is leading a team involved in the review.

The board has also extended the contract of Bayer’s HR head, Hartmut Klusik, ahead of the “very tangible changes” the company is anticipating, Reuters’ source added.

Recent articles & video

Financial worries hit wellbeing of 63% of Hong Kong employees: report

Hong Kong extends allowances to elderly re-entering workforce

Should CEOs denounce political violence?

Amazon Prime Day 'major cause of injury' for warehouse staff: report

Most Read Articles

Coaching deficiency: Leaders, workers dissatisfied with mentorship levels

Executives face criminal charges for fraudulent, deceptive bank transactions

Fake job: Director applies for foreign worker's Employment Pass under false pretenses