India, May 15 -- Bayer AG revealed its financial results for the first quarter of 2024, which included a cut of the workforce by around 1500 people, most of which were in the management, together with the slight sales drop and the new earnings forecast for the full year.

During a media call on Tuesday morning, CEO Bill Anderson stated, "Approximately two-thirds of these were management jobs," referring to the job cuts that have affected the company's pharmaceuticals, crop science, and consumer health sectors.

"Our senior leadership circle is already considerably smaller than it was a year ago," Anderson further remarked, emphasizing that the downsizing is a strategic move to achieve the company's goal of €500 million ($540 million...