German pharmaceutical giant Bayer last week announced that it plans to cut 6,100 jobs as it seeks to integrate the activities of Schering AG into the company.
Bayer bought Schering in mid-2006 and renamed the firm as Bayer Schering Pharma. The company said the cuts are aimed at reducing overlap between the companies and should save 700 million euros ($921.4 million) by 2009.
Some 3,150 jobs will be cut in Europe, 1,000 jobs in the U.S., 750 in the Asia-Pacific region, and 1,200 in Latin America and Canada. Of the total, 1,400 jobs will be cut in research and development and 1,850 in production, while 2,850 jobs will be lost in central administration and local and regional structures.
The company said that Berlin will remain the largest location and the headquarters of Bayer Schering Pharma.
By AuntMinnie.com staff writers
March 5, 2007
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