In a bid to claw back $2.15 billion, the struggling pharmaceutical giant Bayer CEO is doing away with middle managers and 99% of the company’s 1,362-page corporate handbook, allowing nearly 100,000 employees to self-manage. Bayer, the 160-year-old German company known for inventing aspirin, has been stuck in a rut: Its market cap has plunged to two-decade lows—spurred by its so-far disastrous acquisition of Monsanto—and its CEO Bill Anderson believes that flattening hierarchy and slashing corpor...