Bayer is cutting 12,000 jobs in the wake of its Monsanto deal

[DonViejo]

Source: CNN Business



By Charles Riley, CNN Business

Updated 11:03 AM ET, Thu November 29, 2018

London (CNN Business) - Bayer plans to slash thousands of jobs as part of a corporate overhaul following its acquisition of Monsanto.

The chemicals and pharmaceuticals group said it would cut 12,000 jobs out of its global workforce of 118,000 by the end of 2021. A significant number of the reductions will be made in its home market of Germany.

More than 4,000 jobs will go at the company's crop sciences division, a consequence of Bayer's acquisition of US rival Monsanto earlier this year.

Bayer (BAYRY) spent over $60 billion buying Monsanto. To gain regulatory approval for the deal, Bayer agreed to sell assets including its seed business and some herbicide brands.



Read more: https://www.cnn.com/2018/11/29/business/bayer-job-cuts-monsanto/index.html

[MontanaMama]

1. So much winning.

My head hurts.

[gtar100]

2. That's capitalism, American style, for you.

Make a few people filthy rich and screw over thousands, millions, even billions. Couldn't expect anything less from two ugly corporations such as these. I'm sure those with smiling faces over this news couldn't care less about the fate of the human race.

[Roy Rolling]

3. One thing About Capitalism

At one part of my career I was in touch with some of the most influential market analysts on Wall Street. One very smart Harvard-educated analyst told me his honest opinion. He said, "the capital markets exist for one thing. To transfer money from the many to the few."

It's not a charity, nor a social project. It's a business, no matter how many dollars a company gives to kids without ponies.

[lagomorph777]

4. A poisonous alliance between the Glyphosate gang and the Tzyklone tsars.

[dalton99a]

5. This is why we need MORE corporate tax relief

The rich must get richer and the poor must get poorer

[Eric J in MN]

6. We need different laws on mergers.

The current standard is: will the merger create a monopoly?

The standard should be: will the merger be good for workers?

[mastermind]

7. I see the fbi just raided tRumps tax attorneys office in Chicago nt

[YOHABLO]

8. Why would Bayer acquire Monsanto with it's multi-billion dollar lawsuit on going? (glyphosphate)

[haele]

10. They're not picking up that part of the business.The GE seeds and herbicides will probably spin-off.

Note: I use the term "GE" for Genetically Engineered instead of GMO (Genetically Modified Organism); the term GMO can also apply to centuries old traditional breeding/splicing practices (including "organic&quot for produce.
Bayer's going to follow EU guidelines in the acquisition of Monsanto. So, be prepared for a Monsanto US LTD. to handle the lucrative Round-up Ready sterile Seed business.

Haele

[bluestarone]

9. Get the feeling that DEMS. will inherit another MESS?? (2020)

I DO!!!!!!!!!!

[pecosbob]

11. One of the world's most evil corporations absorbs another

of the world's most evil corporations...