Bayer says it will cut management jobs as Q3 earnings drop

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SaltWire's Atlantic regional weather forecast for November 7, 2023 | SaltWireFRANKFURT - Bayer said on Wednesday that it would remove several layers of management to speed up decision-making, confirming a Reuters report in September.

"By the end of next year, Bayer will remove multiple layers of management and coordination," the company said in a statement. It also reported third-quarter earnings before interest, taxes, depreciation and amortisation , adjusted for one-offs, fell 31.3% to 1.685 billion euros, on falling earnings at its Crop Science division.

 

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