The cuts will roll out between 2027 and 2029, targeting 2,150 roles within Germany across all administrative and business units. This follows a previous mandate to shed 2,800 jobs by the end of this year. Chief Executive Christian Kullmann cited persistent economic weakness and intensifying international competition as primary drivers for the downsizing. The company currently employs roughly 31,000 staff, and leadership expects to finalize the specific scope of the latest reductions in the coming weeks.

Beyond personnel cuts, Evonik is exiting its global polyester operations, which have failed to turn a profit for years despite generating roughly 150 million euros in annual revenue. This strategy involves closing a site in Witten, Germany, and reducing headcount at facilities in Marl and Shanghai. The industry-wide strain is evident, as peers like Wacker Chemie and BASF simultaneously pursue aggressive cost-saving measures to counter supply-chain volatility and high operational expenses. Following the announcement, Evonik shares dropped 3.4% to 15.25 euros in midday European trading.