35,000 jobs lost if Bayer bolts Germany over electricity cost
Deutsche Welle reports that Germany stands to lose 35,000 jobs if Bayer chemical & pharmacuetical follows through on threats to leave the country over Germany's high cost of electricity. Bayer CEO told Wirtschaftswoche (Business Week) that, ""It is important that we remain competitive in comparison with other countries ... otherwise a global business such as Bayer would have to consider relocating its production to countries with lower energy costs." Following the Japanese tsunami and the resulting emergency at the Fukushima nuclear plant, German Chancellor Angela Merkel announced that Germany would end its use of nuclear energy. German subsidies and tariffs for [...]