160-yr-old pharma giant Bayer to remove managers, cut 99% of its rulebook

German pharmaceutical giant Bayer is removing middle managers to allow employees to self-manage and choose the projects they want to work on. CEO Bill Anderson recently also said the company will cut 99% of its 1,362-page corporate rulebook. The move is expected to trim costs by $2.17 billion. Bayer's workforce will consist of 5,000-6,000 self-directed teams in future, Anderson said.