Trade union opposes possible split-up of Germany's Bayer
Reuters
Published Jan 15, 2024 12:40
BERLIN (Reuters) - Germany's trade union IG BCE has pushed back against a possible split-up of drugmaker Bayer (ETR:BAYGN), which it says is envisaged by some shareholders, arguing such a move would endanger jobs in Germany.
"For us, it's about keeping Bayer together," Michael Vassiliadis, leader of the IG BCE trade union, said in Berlin.
A split-up would weaken individual company segments, making them more prone to takeovers, he said, adding that it was unclear whether the pharmaceuticals business or the company's headquarters would stay in Germany in such an event.
Vassiliadis said CEO Bill Anderson's plans for a new management structure were currently being discussed. The trade union was not yet convinced of a reduction in middle management positions at Bayer, he said.
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Written By: Reuters
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