Bayer confirms move to add 500 jobs at its Creve Coeur facility
Category: #business  By Pranali Mehta  Date: 2019-07-18
  • share
  • Twitter
  • Facebook
  • LinkedIn
Bayer confirms move to add 500 jobs at its Creve Coeur facility

Bayer AG, the Germany-based multinational pharmaceutical and life sciences company, plans to bring 500 hundred jobs to Creve Coeur campus and has invested US$164 million for the facility’s improvement.

Missouri’s Governor Mike Parson said that this move will enhance the successful ag-tech industry in the state and strengthen the long-term commitment the company has given to the region.

The announcement was made 13 months following Bayer’s acquisition of Monsanto Co., worth US$63 billion. The deal had generated concerns regarding potential losses of local jobs. 

Parson stated that Bayer is focused on retaining 4,400 jobs in St. Louis and will add 500 of more. State officials said that the average salary will be $110,000. The Republican governor recently met with the CEO of Bayer, Werner Baumann, during a trade mission in Europe.

Lisa Safarian, President at North America commercial operation of Bayer said that the announcement was a result of the shutting down of Raleigh campus, in North Carolina, which was Bayer’s North American headquarters for crop sciences.

The 500 jobs at St. Louis will be a combination of new hires and transfers from North Carolina, where Bayer’s headquarter was closed off, Safarian informed.

Citing reliable sources, the announcement for added jobs in St. Louis was made after the company announced in November that it will be cutting about 10% of its workforce, comprising around 12,000 jobs around the world. The acquisition of Monsanto made the company face litigation in relation with its signature Round Up product that the plaintiffs said caused cancer.

Reportedly, the state is offering incentives worth $44 million, mostly through the Missouri Works program which allows companies to retain the payroll taxes of their employees when the job targets are met. These state incentives will be paid over a time period of seven years.

Source Credit- https://www.stltoday.com/business/local/bayer-shifts-jobs-from-north-carolina-to-creve-coeur/article_ab5dc277-74de-589c-8e70-2bd6b0f7cef9.html

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

Read More >>

More News By Pranali Mehta

Goldman Sachs secures $8Mn stake in Purplle’s angel investors
Goldman Sachs secures $8Mn stake in Purplle’s angel investors
By Pranali Mehta

American investment bank and financial services firm, Goldman Sachs Group, Inc. has recently acquired a stake in online beauty and cosmetic retailer, Purplle’s two angel investors. For the uninitiated, in 2019, Goldman Sachs had led a...

Oil India and Engineers India to acquire 48% stake in BPCL-owned NRL
Oil India and Engineers India to acquire 48% stake in BPCL-owned NRL
By Pranali Mehta

A consortium led by Oil India Limited and Engineers India Limited has reportedly planned to proceed with the acquisition of 48 per cent shares in Numaligarh Refinery Limited, a subsidiary of BPCL. According to Harish Madhav, the Director of Finance ...

Aspire to become the majority shareholder in RapidValue Solutions
Aspire to become the majority shareholder in RapidValue Solutions
By Pranali Mehta

Global IT services provider Aspire Systems has reportedly announced that it has bought a majority stake in RapidValue Solutions, a leading provider of digital product engineering solutions. This deal involves the purchase of Helion Ventures’ en...