Bayer said on Friday that it planned to slash 6,100 jobs worldwide as part of the integration of newly-acquired drug maker Schering.
"The integration of Schering with the pharmaceuticals division of Bayer will result in annual savings of 700 million euros ($920 million) each year from 2009," Bayer said in a statement.
"Adjustments to personnel requirements and the consolidation of processes and systems will each contribute about half to the targeted global synergy effects."
About 3,150 jobs were on the line in Europe, of which 1,500 would come in Germany alone.
A further 1,000 jobs would be axed in the United States, 750 in the Asia-Pacific region and Japan, and 1,200 jobs in Latin America and Canada.
In terms of division, 1,400 jobs would be axed in Bayer's R & D activities, 1,850 in production and 2,850 in administration, the company continued.
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"The integration of Schering with the pharmaceuticals division of Bayer will result in annual savings of 700 million euros ($920 million) each year from 2009," Bayer said in a statement.
"Adjustments to personnel requirements and the consolidation of processes and systems will each contribute about half to the targeted global synergy effects."
About 3,150 jobs were on the line in Europe, of which 1,500 would come in Germany alone.
A further 1,000 jobs would be axed in the United States, 750 in the Asia-Pacific region and Japan, and 1,200 jobs in Latin America and Canada.
In terms of division, 1,400 jobs would be axed in Bayer's R & D activities, 1,850 in production and 2,850 in administration, the company continued.
More at Yahoo News
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