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.
