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Bayer to cut 12,000 jobs amid cancer lawsuit challenges
Bayer, the well-known German pharma and life sciences company, is cutting about 12,000 jobs worldwide to simplify its structure and speed up decision-making.
Even though investors have pushed for bigger changes, Bayer isn't planning to split up its business or sell off major divisions—it's keeping everything under one roof.
Bayer still has nearly 90,000 employees globally
Bayer still has nearly 90,000 employees globally but is dealing with a wave of lawsuits in the US claiming its Roundup weedkiller causes cancer.
To handle these legal battles, the company has set aside $7.4 billion—including a fresh $1.37 billion just for ongoing cases.
Despite all this turbulence, Bayer says it's sticking with its current business model and working to resolve these challenges head-on.