"By the end of next year, Bayer will remove multiple layers of management and coordination," he said. Even though this will include a significant reduction in the workforce, it is not a traditional cost-cutting program, Anderson added.

"In terms of structural options, beyond maintaining three divisions, a separation of either Consumer Health or Crop Science remains under evaluation." the CEO said. "We have also taken some options out of consideration. For example, we considered simultaneously splitting the company into three businesses. We're ruling that option out. A three-way split would require a two-step process." 

Sales at its pharmaceuticals division fell 8.4% to €4.54 billion, while the consumer health business contributed €1.41 billion in sales, down 8.9% on year.

Bayer posted a Q3 net loss of €4.57 billion compared with a profit of €546 million a year ago.

EBITDA plunged 31% to €1.69 billion. Core earnings per share slumped 66% to €0.38 from €1.13.

Bayer expects a soft growth outlook and continued challenges to the company's profitability for next year.

Price Action: BAYRY shares were down 1.25 to $11.08 at the time of publication Wednesday.

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