Bayer CEO is shaking up the company to recover $2.15 billion by abolishing middle managers and slashing the corporate handbook. The 160-year-old German drug giant, known for aspirin, faces financial struggles due to its misguided Monsanto acquisition. CEO Bill Anderson aims to streamline operations and empower employees, moving towards a boss-less structure with self-directed teams working on projects collaboratively. The bold move is met with skepticism regarding its effectiveness, as Bayer’s worth has plummeted, and it faces legal battles over Roundup. Despite uncertainties, Anderson believes the radical changes will save billions and transform the company for the better.
https://fortune.com/europe/2024/04/11/pharmaceutical-giant-bayer-ceo-bill-anderson-rid-bosses-staff-self-organize-save-2-billion/