Bayer Contemplates Breakup Amidst Management Job Cuts
Bayer is considering breaking apart from its consumer health or crop science divisions, as new CEO Bill Anderson aims to revive the company's share price. The company is exploring the possibility of separating either the non-prescription medicines business or the agriculture business from the rest of the group, with a sequential split into three companies also being considered. Anderson also confirmed plans to remove several layers of management, resulting in a significant reduction in the workforce. Bayer's shares were down 1% following the announcement.