German conglomerate BayWa to cut 16% of workforce amid reorganization

NAMPA / DPA

2024-12-04

Munich (dpa) - German conglomerate BayWa on Wednesday said it plans to cut 1,300 jobs, corresponding to 16% of its workforce, as part of a reorganization plan. The company - Germany's largest agricultural trader - plays a vital role in agriculture and food supply in southern and eastern Germany. However, BayWa is burdened with billions of euros worth of debt after a large expansion that has been reliant on credit over the past decade. Under a......

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