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  • Condensed by Lynda Kiernan-Stone, Unconventional Ag Media
    • Nov 13, 2023
    • 1 min read

Bayer Considering Breaking Off Crop Science Division

As the company faces headwinds with profits, Bayer is considering breaking off its crop science business as part of a broader redesigning of the company that will streamline it down to its essentials.

Third quarter earnings for the division saw a significant decline from last year, resulting in a loss of EUR 4.6 billion (US$4.93 billion). During the same quarter, the company generated sales of EUR 10.3 billion - down 8 percent from the previous year. And although CEO Bill Anderson stressed in a recent earnings call that splitting the company into three businesses is off the table, this restructuring will involve a “significant reduction in the workforce” and changes to management compensation. Anderson also went on to say that multiple layers of management will be streamlined to bring the “center of gravity” closer to the customer.


Another update on Bayer’s restructuring plans will be given in March 2024, along with its annual earnings report and 2024 guidance.



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CONTRIBUTE

Contact Lynda Kiernan-Stone,

editor of Unconventional Ag News, to submit a story for consideration: 
lkiernan-stone@highquestgroup.com

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