4,500 Bayer job cuts will be in Germany

Bayer AG, which previously announced its intent to cut 12,000 positions worldwide, will eliminate about 4,500 of those positions in its home market of Germany, according to Bloomberg.

The job cuts are part of the drugmaker's plan to boost profitability after its $63 million acquisition of Monsanto.

Job cuts in Germany are potentially costly because of tight labor protections, according to the report.

A Bayer spokesperson declined Bloomberg's request for comment on the layoffs.

The 12,000 job cuts will be completed by the end of 2021.

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