Essen-based chemical group Evonik plans to cut 3,200 jobs worldwide, including 2,150 in Germany, and is looking to put new money into Asia and the United States instead.
Interim chief Claus Rettig said management, the supervisory board and employee representatives were aligned on the diagnosis. “The board of directors, supervisory board and employee representatives share a conviction: We are in a structural and economic crisis of our industry,” Rettig announced.
Two-thirds of the planned cuts fall in Germany. Evonik employed more than 31,000 people worldwide at the end of 2025, according to German news outlet Tagesschau. Existing savings and efficiency programs are already expected to remove about 2,800 jobs by the end of this year. The additional wave is scheduled through the end of 2029 and is to be carried out “in a socially responsible manner” through early retirements, severance payments and leaving vacant posts unfilled. The company says there will be no compulsory redundancies.
Growth, Rettig said, looks better outside Europe. Further investment projects are being examined in Asia and America.
Evonik also wants to sell subsidiaries Oxeno and Syneqt, which together employ more than 4,300 people.
“We speak with investors at Oxeno, but that’s not yet the case with Syneqt,” Rettig said. He added that both units are to be put up for sale.
The group is one of Germany’s largest chemical firms. Revenue in 2025 came to €14.1 billion, down 7 percent from the year before. Its portfolio covers more than 4,000 products used in pharmaceuticals, food and mechanical engineering.
The cuts sit inside a wider slump. Germany’s chemical-pharmaceutical industry remains the country’s third-largest industrial sector, with more than 476,000 employees. In May, the Munich-based ifo Institute warned that the sector’s business climate had deteriorated sharply. High energy prices, bureaucracy and the Iran war were cited as causes.
“The consequences of the hostilities in the Middle East are hitting the already struggling chemical industry with full force,” said Anna Wolf, head of the ifo Centre for Innovation Economics.
Evonik’s answer is a familiar story in German industry this year: fewer jobs at home, asset sales, and a search for cheaper growth abroad.
