ST. LOUIS Agribusiness giant Bayer is asking its employees to volunteer for severance packages as the company readies for layoffs and navigates a shift to a "new operating model."
Bayer will trim jobs, especially in management roles. Workers were asked last week to notify the company if they wish to be considered for severance payouts.
The Bayer Group is introducing a new operating model called “Dynamic Shared Ownership” (DSO) worldwide, which will reduce hierarchies, eliminate bureaucracy, streamline structures and accelerate d .
CEO Bill Anderson said despite prior cost-cutting measures, Bayer still has too many layers of management and bureaucracy. A new restructuring will come with layoffs but the corporate shakeup plan does not yet include a separation of Bayer’s business units.