Bayer (BAYZF.PK, BAYRY.PK, BYR.L) plans to cut more than 1.5 billion euros of annual costs as of 2024. The company may cut jobs and plans to exit non-strategic businesses or brands, as the coronavirus pandemic impacts its businesses. It expects to take a non-cash impairment charges on agricultural business, due to low commodity prices.
The new cost-savings program comes on top of annual savings of 2.6 billion euros as of 2022, which were announced in November 2018.
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