Overview
- Evonik announced Tuesday that it will cut 3,200 jobs worldwide between 2027 and the end of 2029, with 2,150 of those positions in Germany.
- The company says it will avoid compulsory dismissals and aim for socially compatible measures such as not refilling vacancies, early retirements, and voluntary departures with severance.
- As part of the plan Evonik will stop its global polyester business in 2027 and prepare sales of subsidiaries Oxeno and Syneqt, with Oxeno already in talks with investors and Syneqt's sale planned but not yet under negotiation.
- Evonik will reorganize its product portfolio by assigning specific 'role profiles' to six large German sites, building on roughly 2,800 jobs already cut under earlier savings programs through end‑2026.
- The announcement lifted Evonik shares by about five percent and highlights wider industry pressures such as high European energy costs that are pushing investment and capacity toward Asia and the Americas.