Restructuring events
European Restructuring Monitor (ERM)
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.
The pharmaceutical manufacturer Bayer announced the loss of 4,500 jobs in Germany due to internal restructuring. The job reduction comes as part of a worldwide savings programme, announced in December 2018, which intends to save €1.4 billion and includes the loss of 12,000 employees until 2021. According to the CEO, Bayer’s headquarter will mainly be affected with the loss of approximately 4,000 jobs. Additionally, the plant in Wuppertal will be affected with the loss of minimum 350 jobs. Mainly affected will be jobs in service, IT and operative purchasing. Compulsory redundancies are collectively excluded until 2025. Bayer will be reliant on voluntary solutions such as early-retirement programmes.
Currently, Bayer has 32,140 employees in Germany.
Eurofound (2019), Bayer, Internal restructuring in Germany, factsheet number 97566, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97566.