Bayer, after Trump meeting, pledges to add thousan
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Posted On: 01/18/2017 7:37:28 AM
Bayer, after Trump meeting, pledges to add thousands of U.S. jobs
Bayer AG has pledged to add U.S. jobs and investment after meeting with President-elect Donald Trump, the latest in a string of public displays from companies looking to head off criticism from the incoming administration about job losses.
The German chemical conglomerate, which is seeking regulatory approval for its planned $57 billion purchase of biotech seed maker Monsanto Co. MON, +0.51% , said Tuesday it would step up research investments and create “several thousand” new high-tech positions in the U.S. after completing the deal targeted to close by the end of the year.
The pledge came hours after General Motors Co. separately confirmed a plan to invest a further $1 billion in its U.S. manufacturing operations, and Hyundai Motor Co. 005380, +0.33% outlined a new $3.1 billion investment in existing U.S. manufacturing plants. Also on Tuesday, Wal-Mart Stores Inc. WMT, +1.92% touted its previous plans to add about 10,000 U.S. jobs this year, following online retailer Amazon.com Inc.’s AMZN, -0.91% announcement last week of an additional 100,000 full-time U.S. jobs, mostly through expansion plans already in the works.
According to Trump transition team spokesman Sean Spicer, Bayer’s BAYN, +0.38% decision was the result of “the president-elect’s focus on creating a better business climate here in the United States.”
Bayer AG has pledged to add U.S. jobs and investment after meeting with President-elect Donald Trump, the latest in a string of public displays from companies looking to head off criticism from the incoming administration about job losses.
The German chemical conglomerate, which is seeking regulatory approval for its planned $57 billion purchase of biotech seed maker Monsanto Co. MON, +0.51% , said Tuesday it would step up research investments and create “several thousand” new high-tech positions in the U.S. after completing the deal targeted to close by the end of the year.
The pledge came hours after General Motors Co. separately confirmed a plan to invest a further $1 billion in its U.S. manufacturing operations, and Hyundai Motor Co. 005380, +0.33% outlined a new $3.1 billion investment in existing U.S. manufacturing plants. Also on Tuesday, Wal-Mart Stores Inc. WMT, +1.92% touted its previous plans to add about 10,000 U.S. jobs this year, following online retailer Amazon.com Inc.’s AMZN, -0.91% announcement last week of an additional 100,000 full-time U.S. jobs, mostly through expansion plans already in the works.
According to Trump transition team spokesman Sean Spicer, Bayer’s BAYN, +0.38% decision was the result of “the president-elect’s focus on creating a better business climate here in the United States.”
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