A year after Bayer got rid of bosses and asked staff to self-organize, its CEO says attrition has fallen [Fortune]
BAYER AG S/ADR (BAYRY)
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Source: Fortune
bold move a year ago to get his damaged company back on track: do away with managers and have employees self-organize. Nearly 12 months later, green shoots may finally be appearing following a desperately dark time for the German group that invented aspirin. Bayer announced plans earlier this year to secure €2 billion in cost reductions by 2026, which has involved around 5,500 layoffs, mostly in managerial positions. In place of managers, Bayer got rid of annual budgets and asked staff to organize themselves into 90-day “sprints” in self-directed teams. Anderson promised the vast majority of his staff would be operating under this model by the end of 2024. “Rather than a lumbering corporation, Bayer will emerge as agile and bold as a startup–but one with operations in more than 100 countries. I'm convinced that this dramatic change will accelerate and unlock the value creation in each of our businesses,” Anderson wrote in a commentary piece for Fortune in March The initial b
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