German chemical giant Bayer AG, with sites in places such as Antwerp and Diegem, has struck a deal with employee representatives unions over a “significant” reduction in its management positions worldwide.
The impending job cuts are linked to a new operating model Bayer is introducing worldwide, the group said in a statement. Called the 'Dynamic Shared Ownership,' it will "reduce hierarchies, eliminate bureaucracy, streamline structures and accelerate decision-making processes," according to the group.
"The aim of the new operating model is to make the company much more agile and significantly improve its operational performance," it explained.
The implementation of this decision will begin in the upcoming months and is expected to be complete by the end of 2025.
The exact number of jobs that will be cut was not specified in the statement.
