Bayer will slash hundreds of jobs as it shutters its research facility in West Haven, CN, as part of a global restructuring triggered by its takeover of Schering. About 600 research jobs will be cut in the U.S. with another 200 layoffs to come. In the future, Bayer Schering Pharma will concentrate R&D activities in Berlin and Wuppertal in Germany, and Berkeley, CA. By the end of 2008 the company expects to reduce its R&D costs by $210 million a year.
"The productivity of our oncology research group in Berlin is enhanced by its close working relationships with other co-located R&D functions, and the proximity of this group to our center of excellence for lead discovery in Wuppertal will further enhance productivity," said Marc Rubin, member of the board of management of Bayer Schering Pharma and head of the company's Research and Development organization. Berkeley will remain the R&D center for protein-based biologics drug discovery and development and will continue to be home to the company's Global Hematology/Cardiology business unit.
- here's a report on the restructuring from the International Herald Tribune
- see the company press release for more