This company wants to slash corporate bureaucracy and let employees manage themselves. Could it work?

Wed, 04/10/2024 - 23:16

Bill Anderson, CEO of Bayer, wants to change the traditional corporate structure and get rid of middle managers.
Business Wire

Pharmaceutical giant Bayer has seen its stock decrease more than 50% in the last year.
CEO Bill Anderson wants to turn things around by transforming the corporate hierarchy.
His plan involves reducing bureaucracy and giving employees more choice.

Bayer, the maker of Alka-Seltzer, Claritin, and other popular over-the-counter drugs, has been in a rut, and its leader believes he has a plan to get the company out of it.

The idea involves slashing the corporate bureaucracy, giving employees more control, and, hopefully, as a result, allowing the company to innovate efficiently.