KARACHI – Bayer, an international pharmaceutical company, has announced its decision to cease operations in Pakistan amid the economic mess. The company’s assets have been sold to a local company.
This marks the second international pharmaceutical company to exit Pakistan recently. In November 2022, American pharmaceutical company Eli Lilly also announced its withdrawal from the country.
Employees, concerned about potential job losses under the new management following another multinational company’s departure, are demanding assurances of job security and separation packages in accordance with the company’s global policies.
Bayer’s management has stated that it sold its assets to a local company, which has provided existing employees with a guarantee of job security for a minimum of two years. As a result, no requests for severance packages have been made by the employees who will continue working.
Local employees of the German multinational held a protest at the National Press Club, requesting payment equivalent to 60 to 100 months’ salaries, following the standard severance practices observed by other companies worldwide.
During the protest, the affected employees appealed to the President, the Prime Minister, and the Chief Justice to address their grievances and ensure that their legitimate rights are protected by the company.
The employees have approached decision-makers to intervene and ensure that the company adheres to its policies. They argue that Western countries enforce rules and regulations when companies terminate employees, but in developing countries, these laws are often disregarded, which is highly inappropriate.
