Bayer CEO Bill Anderson is confident about the ongoing reorganization of the company, in which numerous hierarchical levels and thousands of jobs are being cut.

"We are making faster progress than expected and will save two billion euros a year from 2026 as promised," Anderson told Handelsblatt. By the end of 2024, 70 percent of the reorganization of the Leverkusen-based agricultural and pharmaceutical company will have been implemented. "We will already see the results of the reorganization this year - through cost reductions, a reduction in bureaucracy and significantly accelerated projects." Bayer wants to win back the trust of investors with the restructuring.

(Report by Olaf Brenner, edited by Christian Götz. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets)