Daily Times

In the midst of Pakistan’s economic crisis, the multinational pharmaceutical company Bayer announced its decision to halt operations there. The company’s assets were sold to a nearby business.

This is the second foreign pharmaceutical company to recently leave Pakistan. Eli Lilly, an American pharmaceutical company, also declared its exit from the nation in November 2022.

Following the departure of another multinational corporation, employees are demanding guarantees of job security and separation packages in accordance with the company’s global policies because they are worried about possible job losses under the new management.

According to Bayer’s management, it sold its assets to a local business that promised existing workers job security for at least two years. As a result, the workers who will still be employed have not asked for severance packages.

Local staff members of the German multinational protested at the National Press Club, demanding payment equating to 60 to 100 months’ worth of salaries, in accordance with the customary severance procedures followed by other businesses around the world.

During the demonstration, the affected workers pleaded with the President, Prime Minister, and Chief Justice to address their complaints and make sure that the company is upholding their legal rights.

The staff has spoken with the decision-makers to request that they step in and enforce the company’s policies. They contend that while laws are strictly adhered to in Western nations when businesses fire employees, this is not the case in developing nations, where it is frequently illegal.