Chemical Giant Evonik to Cut 3,200 Jobs Amid Industry Crisis
Essen-based specialty chemicals company Evonik announced 3,200 job cuts by 2029, with 2,150 positions eliminated in Germany, citing weak growth and fierce international competition.
German specialty chemicals company Evonik announced on June 18th that it will cut 3,200 jobs worldwide by the end of 2029, with 2,150 positions eliminated in Germany alone. The Essen-based company, which makes a range of specialized chemicals, said the cuts were aimed at advancing the company's transformation.
Industry Under Pressure
Chemicals is one of the most important sectors in Europe's biggest economy, but it has been struggling with high costs, exacerbated recently by the energy price shock from the Iran war. CEO Christian Kullmann stated that the global political situation remains uncertain, economic growth is persistently weak, and international competition is becoming increasingly fierce.
The job losses will be across all business and administrative departments worldwide. The new cutbacks come on top of 2,800 jobs being cut between October 2023 and the end of this year. The company also said it would close its polyester business entirely next year, with sites in Germany and China affected.
For foreigners in Germany: If you work in the chemicals sector or related supply chains, these cuts reflect broader challenges facing Germany's industrial base. The company has indicated that talks with staff representatives will take place in the coming weeks, and labor protections mean affected employees will likely receive substantial notice periods and severance packages. Job seekers in technical fields may want to monitor which sectors are expanding rather than contracting.
Sources
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