Bayer AG Second Quarter Net Profit Up; Job Cuts Planned

BERLIN - German chemical and drug maker Bayer AG said Tuesday its second-quarter net profit increased by 11.3 percent, helped by sales growth at its health-care unit. Bayer also announced a restructuring plan for its CropScience unit that will lead to about 1,500 job cuts by the end of 2009, mainly in North America.

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