FRANKFURT, Jan 17 (Reuters) - Bayer said it signed an agreement with shop stewards over a significant reduction in managerial jobs but ruled out compulsory redundancies until the end of 2026.

“Bayer is currently in a difficult situation for various reasons. In order to make rapid, sustainable improvements to our operational performance and our room to manoeuvre, far-reaching measures are necessary," executive board member Heike Prinz said in a statement on Wednesday. (Reporting by Ludwig Burger Editing by Chris Reese)