Bayer AG Needs to Cut Costs: CEO Says

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Bayer AG (BAYN) has begun talks on cost cuts with workers at the MaterialScience unit in a bid to improve the plastics division’s profitability, Chief Executive Officer Marijn Dekkers said. Bayer is looking at saving measures that will be in effect over the next three to four years, Dekkers said at a dinner with journalists last night at the company’s headquarters in Leverkusen, Germany. He declined to comment on whether job cuts are being discussed.

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