Chemical conglomerate Evonik has announced planned job reductions spanning several years. As part of a major restructuring program, the company said on Tuesday that 3,200 positions would be eliminated globally, with approximately 2,150 of those located in Germany. The reduction will be achieved not only by leaving vacant positions unfilled but also through voluntary retirements and early departures offered with severance pay.
Interim CEO Claus Rettig stated, “We are in a structural and economic crisis within our industry.” He added that this conviction is shared by the management board, the supervisory board, and employee representatives, who believe the company will use this ‘polycrisis’ to fundamentally change old structures and better prepare itself for the future. According to the company, the primary goal of the program is to further lower the group’s cost base.
Evonik sees strong growth potential specifically in Asia and the Americas, and further investment projects in these regions are currently under review. The company maintains its goal of achieving a balanced revenue distribution across its three key regions: Europe, Asia, and the Americas. Furthermore, in Germany, six major production sites will be assigned a distinct profile, guiding the future development of each location in the coming years. The company indicated that the implementation of these defined future visions will begin in the near future. Simultaneously, Evonik will also be withdrawing from business activities globally where it perceives no future prospects within the company.
