Chemical concern Bayer announced its intention to sell its non-core assets, such as brands of sunscreens and foot care products, as well as a division that produces veterinary drugs. This will allow the German company to focus its efforts on the core business, investing the funds received from asset sales. To improve business efficiency and reduce costs, Bayer plans to lay off about 12,000 employees by the end of 2021. Most of the layoffs will concern employees working in Germany. The company's management estimates that the effect of these measures, combined with the synergy from the merger with Monsanto, will bring Bayer 2,600 million euros per year.