{"id":4916,"date":"2018-11-29T17:46:48","date_gmt":"2018-11-29T17:46:48","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/bayer-to-cut-12000-jobs-and-sell-brands\/"},"modified":"2018-11-29T17:46:48","modified_gmt":"2018-11-29T17:46:48","slug":"bayer-to-cut-12000-jobs-and-sell-brands","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/bayer-to-cut-12000-jobs-and-sell-brands\/","title":{"rendered":"Bayer to cut 12,000 jobs and sell brands"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Bayer protest\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/5950\/production\/_104546822_hi050884013.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Bayer plans to sell brands including Dr Scholl&#8217;s foot care and Coppertone sunscreen in a cost-cutting drive that includes about 12,000 job cuts following its <a href=\"https:\/\/www.bbc.co.uk\/news\/business-37361556\" class=\"story-body__link\">takeover of Monsanto<\/a>.<\/p>\n<p>The cuts will account for about one in ten workers globally, with a &#8220;significant number&#8221; going in Germany.<\/p>\n<p>Bayer also plans to sell its animal health division, which could be worth up to \u20ac7bn (\u00a36.2bn).<\/p>\n<p>Shares in the German drug giant have fallen more than a third this year.<\/p>\n<p>Investors fear the ramifications of some 9,000 lawsuits brought over the alleged carcinogenic effects of Monsanto weedkillers.<\/p>\n<p>In August Bayer shares dropped sharply <a href=\"https:\/\/www.bbc.co.uk\/news\/world-europe-45167906\" class=\"story-body__link\">after a US ruling linking glyphosate to cancer<\/a>. Glyphosate, which Bayer says is safe, is used in Monsanto&#8217;s Roundup and RangerPro.<\/p>\n<p>The company acquired Dr Scholl and Coppertone four years ago when it bought Merck&#8217;s consumer healthcare division for $14bn (\u00a311bn).<\/p>\n<p>The unit is grappling with falling revenues as US consumers switch to online shops and cheaper brands.<\/p>\n<p>Bayer will also seek a buyer for its 60% stake in German chemical production site services provider Currenta.<\/p>\n<p>The $66bn merger with Monsanto in 2016 created the world&#8217;s biggest seeds and pesticides company.<\/p>\n<p>Its decision to sell its animal health business means Bayer will now focus on pharmaceuticals, consumer health and crop science. <\/p>\n<p>More than 4,000 jobs in the combined crop science division will go by the end of 2021.<\/p>\n<p>Bayer chief executive Werner Baumann said: &#8220;These changes are necessary and lay the foundation for Bayer to enhance its performance and agility.&#8221;<\/p>\n<p>The job cuts and sales will result in costs of more than \u20ac4bn.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46391337\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Bayer plans to sell brands including Dr Scholl&#8217;s foot care and Coppertone sunscreen in a cost-cutting drive that includes about 12,000 job cuts following its takeover of Monsanto. The cuts will account for about one in ten workers globally, with a &#8220;significant number&#8221; going in Germany. Bayer also plans to sell &hellip; <\/p>\n","protected":false},"author":0,"featured_media":4917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4916"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/4917"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}