Bay­er un­veils big changes to busi­ness and head­count to ad­dress ‘not ac­cept­able’ per­for­mance

Bay­er is on a mis­sion to over­haul its busi­ness struc­ture and cut down its man­age­ment lay­ers in a bid to ad­dress plum­met­ing fi­nan­cial per­for­mance, the com­pa­ny re­vealed dur­ing its third-quar­ter re­sults.

“We’re not hap­py with this year’s per­for­mance,” CEO Bill An­der­son said in a press re­lease. “Near­ly €50 bil­lion eu­ros in rev­enue but ze­ro cash flow is sim­ply not ac­cept­able.”

The Ger­man con­glom­er­ate end­ed the quar­ter with a loss of €4.56 bil­lion.

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