Bayer Ag Cuts 12,000 Jobs, Plans Vet-Unit Boot The Bucket Every 2Nd Suits Weigh

From AgWeb;

Bayer AG plans to cutting 12,000 jobs in addition to travel out its fauna wellness draw of piece of work organisation inwards an endeavour to mollify Wall Street, which has punished the society over the tidal moving ridge of lawsuits that came amongst the $63 billion takeover of Monsanto Co.

The High German society announced a rash of moves, including exiting the sun-care in addition to foot-care segments, that it said would boost its inwardness pharma in addition to agricultural businesses. The cuts, including a pregnant number inwards Deutschland -- where layoffs are politically sensitive -- stand upwards for close x percentage of the workforce.

The shares were footling changed equally of 4 p.m. inwards Frankfurt trading, erasing initial gains later on the announcement.

The society has lost roughly thirty billion euros ($34.1 billion) inwards marketplace position value since August, when a California jury ruled against its signature weedkiller Roundup, maxim it may possess got caused a schoolhouse groundskeeper’s cancer. At to the lowest degree 9,000 other lawsuits are pending.

‘Good Package’
After the stock barbarous close xl percentage over the by year, Bayer has faced growing questions close how its disparate units volition rest competitive. Restructuring in addition to toll cuts were widely expected ahead of an investor’s twenty-four threescore minutes catamenia coming together inwards London on Wednesday.

“They delivered what everyone was hoping for,” said Ulrich Huwald, a Hamburg-based analyst with Warburg Research GmbH, citing the planned property sales. “It’s a adept bundle on the facial expression upwards of it.”...MORE

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head of Tomorrow's Q3 Report: "Agricultural Venture Capital at Bayer"

Except for the fact the society bought Monsanto with its top-selling Roundup pesticide brand, for $63 billion, despite the fact Deutschland itself is going to outlaw the stuff, except for the $289 i chiliad k initial verdict on a cancer case,* everything is going swimmingly....