The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
440 jobs Number of planned job losses
Announcement Date
2 December 2004
Employment effect (start)
Foreseen end date
Description
Bayer HealthCare (BHC) will bring the Research and Development departments in line with the Pharmaceuticals Division's strategy of concentrating on specific therapeutic segments and increasing regional differentiation. In the future, research at Bayer HealthCare will concentrate on the therapeutic fields of cancer and cardiovascular risk management including diabetes at its sites in West Haven, Connecticut, and Wuppertal, Germany. It will include reductions to global personnel in Research & Development and Production, affecting some 560 positions. Approximately 110 jobs in the United States and around 440 jobs in Germany will be affected by the restructuring measures. Bayer's Employment Pact with employees means the company may not dismiss staff in Germany for economic reasons before the end of 2007. Bayer plans to reduce personnel in a way that will minimize social hardship and will seek to find individual solutions for the staff affected.
Sources
2 December 2004: Financial Times Deutschland
2 December 2004: Bayer - Press release
2 December 2004: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2004), Bayer HealthCare (BHC), Internal restructuring in Germany, factsheet number 60884, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60884.
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