Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
German specialty chemicals company Evonik Industries has announced that it will cut 2,000 jobs worldwide by 2026.
The majority of the job cuts will occur in Germany where about 1,500 positions are expected to be cut. The company reveals that the layoffs will affect a number of management positions.
The restructuring programme aims to reduce costs and streamline operations. Under the programme, the company will design and set up a new organisational structure by the end of 2026, aiming to save €400 million in costs per year. Evonik intends to reduce administrative activities that do not directly support the company’s operating business.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries and employs more than 33,000 employees worldwide.
A previous global restructuring plan for Evonik, cutting 200 jobs, has been recorded in the ERM database Evonik-2023-WO.
Eurofound (2024), Evonik, Internal restructuring in World, factsheet number 200919, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200919.
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