Schering to cut 900 jobs

Schering AG, the world’s biggest maker of birth-control pills, plans to eliminate 900 jobs and close down half of its 24 production sites, seeking to restore earnings growth after a second year of declining profit.

The job cuts come on top of 1,100 already announced, bringing the reductions to almost 8% of the company’s 26,369 staff.

They will help achieve cost reductions of €200 million by 2006, chief executive Hubertus Erlen said at a press conference.