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Germany: Bayer’s take over of Schering could cost 6000 jobs
Planet Labor, 27 March 2006, n°307 -

On the strategic level, the merger is completely judicious. But it will not be done without job cuts. This morning, Werner Wending, chairman of Bayer, said “the potential savings are estimated” at 6000 jobs and an annual profit of 700 million euros. Apparently, the headquarters of Bayer-Schering-Pharma should be located in Berlin, which is the current headquarters of Schering. For the city, the decision is essential because Schering is the only large industrial company remaining in the German capital. It does not only feed a network of 450 SME specialized in biotechnology and medical material, it is also an essential partner of Berliner hospitals ‘research centers. Berlin will for sure keep the activity, but one does not know which sites, German or foreigners, will be affected by the job cuts.

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