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Bayer Stocks Friendly: Glyphosate Trial Wins in Philadelphia – Roundup 'Not Carcinogenic' According to Bayer – Layoffs in Consulting Division |  03/06/24

Bayer Stocks Friendly: Glyphosate Trial Wins in Philadelphia – Roundup 'Not Carcinogenic' According to Bayer – Layoffs in Consulting Division | 03/06/24

“While we have great compassion for everyone who has been harmed, science proves that Roundup is not carcinogenic,” Baer said.

Bayer acquired Roundup maker Monsanto for $63 billion in 2018, and has been mired in legal action ever since. The company was ordered to pay damages in a number of glyphosate-related rulings, but was acquitted in others. Settlements have been concluded in many cases. The company denies that glyphosate is a carcinogen. This question has been controversial in science for years. In November, the European Union Commission extended approval of the weedkiller for ten years.

Bayer is laying off most of the staff in its in-house consulting division

Bayer's planned closure of in-house consulting firm Bayer Business Consulting will result in most of its 200 employees losing their jobs. A company spokesman confirmed this on Wednesday. The pharmaceutical and agrochemicals group announced on Tuesday that it will close its offices in Germany, the United States, Brazil, China and Singapore.

Bayer wants to cut costs by 2.0 billion euros from 2026, equivalent to about a fifth of planned 2024 operating profits.

It was first reported by Handelsblatt newspaper Job cuts It was mentioned in the consulting section.

In XETRA trading, Bayer shares eventually traded 2.66% higher at €26.65.

Written by Sabella Ojea

Frankfurt (Dow Jones)