The German pharmaceutical giant Bayer will cut 12,000 jobs globally and sell off a number of its businesses, after its takeover of agrochemical company Monsanto.
In August Bayer’s shares dropped by more than a third, after a US jury awarded $US289 million ($396 million) in damages to a former school groundskeeper who said his terminal cancer had been caused by Roundup, a product made by Monsanto.
The damages were later reduced by a judge, but hundreds of other patients have made similar claims.
Monsanto disputes the judgement and has said the product is safe when used as directed but now faces more than 9,000 lawsuits over the alleged carcinogenic affects of Roundup.
About one in 10 workers will lose their jobs, with most going in Germany, and in a statement, Bayer Australia said it did know what the effect in Australia would be.