Pharmaceutical giant Bayer is getting rid of bosses and asking staff to ‘self-organize’ to save $2.15 billion
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CEO Bill Anderson says he doesn’t want it to be a “lame” company, but its stock has still tanked 50%.

In a bid to claw back $2.15 billion, the struggling pharmaceutical giant Bayer CEO is doing away with middle managers and 99% of the company’s 1,362-page corporate handbook, allowing nearly 100,000 employees to self-manage.

the company is going boss-less, or as he calls it, moving to “dynamic shared ownership.”