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Fortune
Fortune
Brit Morse

Not just ‘slash and burn’—the real reason this major pharmaceutical company ousted 40% of its middle managers

Edith Cooper, Cofounder, Medley Sebastian Guth, Chief Operating Officer, Bayer Pharmaceuticals Moderator: Phil Wahba, Senior Writer, Fortune; Cochair, Fortune Workplace Innovation Summit

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As companies look to cut costs, many CEOs are looking to trim bloat at the middle-manager level. Amazon CEO Andy Jassy said in March that he plans to flatten the company’s corporate hierarchy by eliminating middle managers and giving more power back to individual contributors. And he’s not alone in this thinking.

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