Bayer plans more cost cuts, impairment charges

German drugs company Bayer AGannounced plans on Wednesday for more than 1.5 billion euros (£1.36 billion)of cost cuts as of 2024 and said it would take impairment charges on its agricultural business as it battles with low commodity prices.Bayer said that the impact of the coronavirus on the crop science business will be deeper than originally expected due to low commodity prices, intense competition in soy, and reduced biofuel consumption, compounded by negative currency effects.As a resu