Bayer CEO Bill Anderson Hints Massive Workforce Reduction

Bayer CEO Bill Anderson has hinted at a massive reduction in the company’s workforce in the coming months. He announced that the the company will undergo a “radical realignment” with huge reductions in its staff.

While being pharma chief at Roche three years ago, he cut down on bureaucracy and reshaped its strategy. Now, as the new CEO of Bayer, a troubled conglomerate, he is embarking on an even bigger overhaul, considering spinning off its consumer health and crop science businesses as part of the realignment.

“Our mission is our only focus at Bayer, and we are getting rid of everything else that is not essential for it,” Anderson said during the company’s third-quarter earnings call. He described the company’s performance in the quarter as “weak” and “unacceptable”.

He said that having 12 layers of management between him and the customers was “simply too much” and said that, by the end of 2024, the company will eliminate several layers of management and coordination.

In September, Reuters reported that Anderson was ready to present his plan to slash the workforce to the company’s board of directors. His comments on Wednesday confirmed that the redesign is in progress. He added that there have been leadership changes “over the last 90 days” in human resources, strategy, and investor relations.