Bayer pharmaceutical company seeks to remove leadership, encourages employees to self-organize: ET HealthWorld

In a bid to address corporate bureaucracy and foster innovation, German pharmaceutical company Bayer is set to undergo structural changes, as reported by Business Insider. CEO Bill Anderson introduced the “Dynamic shared ownership” approach to empower employees and enhance decision-making, highlighting concerns about the rigid hierarchy within the company.

With nearly 100,000 employees, Bayer aims to revamp its organizational structure to improve efficiency and flexibility. The company plans to simplify its extensive rulebook, spanning over 1,300 pages, and reduce the number of middle managers to streamline processes. Employees were encouraged to self-organize and pitch ideas in a recent meeting in New Jersey, signaling a shift towards a more collaborative approach.

Despite the restructuring efforts, Bayer’s shares have plummeted by over 50% in the past year, reflecting financial challenges with a debt of around 34 billion euros. The company anticipates cost savings of approximately 2 billion euros from these changes but remains committed to fostering a culture of innovation and a patient-centric approach.

Anderson’s vision for a more agile and autonomous workforce underscores the company’s commitment to creating a more collaborative and efficient corporate environment. While the exact number of managers to be let go remains undisclosed, reports suggest a significant restructuring in the US operations. Bayer’s strategic changes aim to overcome challenges and drive the company towards sustainable growth and success in the pharmaceutical industry.