In a bid to claw back $2.15 billion in costs, the chief executive of struggling pharmaceutical giant Bayer announced in early April that the company was eliminating middle managers and allowing nearly 100,000 employees to self-manage under a new model dubbed Dynamic Shared Ownership. In the process, it’s also ripping up 99% of the company’s 1,362-page corporate handbook.
https://fortune.com/europe/2024/04/24/bayer-layoffs-manager-cuts/