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Last Updated: Friday, 2 March 2007, 10:02 GMT
Drugs firm Bayer cuts 6,100 jobs
Merck worker scooping pills
Bayer had warned jobs would go following its deal with Schering
German drugs firm Bayer is to axe 6,100 jobs worldwide as part of a major cost-cutting drive following its takeover of rival Schering.

Bayer said 3,150 jobs would go in Europe, while its operations in North America and Latin America would account for more than 2,000 job losses.

Bayer acquired Schering last year for 16.9bn euros (11.3bn; $22.2bn).

The company has outlined plans to save 700m euros annually from 2009 as a result of the deal.

Union talks

We said right from the start of the integration (with Schering) that job cuts would be necessary in order to achieve the synergy targets
Werner Wenning, Bayer chief executive

In addition to the cuts in Europe and America, Bayer said it would axe 750 staff in Asia.

Under the plans, administrative jobs will account for almost half of the positions lost, although Bayer said it also planned to cut research and development as well as production jobs.

The company added that it had begun talks with union leaders over the cuts.

"We want to create an internationally successful pharmaceutical company with competitive cost structures," chief executive Werner Wenning said.

"We said right from the start of the integration that job cuts would be necessary in order to achieve the synergy targets."

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