Bayer to cut 12,000 jobs and sell brands
The cuts will account for about one in ten workers globally, with a “significant number” going in Germany.
Bayer plans to sell brands including Dr Scholl’s foot care and Coppertone sunscreen
Bayer also plans to sell its animal health division, which could be worth up to €7bn (£6.2bn).
Shares in the German drug giant have fallen more than a third this year.
Investors fear the ramifications of some 9,000 lawsuits brought over the alleged carcinogenic effects of Monsanto weedkillers.
Glyphosate, which Bayer says is safe, is used in Monsanto’s Roundup and RangerPro.
BBC News