Evonik Industries announced a comprehensive global organizational restructuring and cost-reduction program, revealing plans to eliminate approximately 3,200 additional positions between 2027 and the end of 2029. Combined with the 2,800 positions reduced under the 2023 efficiency program, the two rounds of restructuring will eliminate nearly 6,000 jobs in total.
The company will also shut down its global polyester business, which generates annual sales of only 150 million euros and primarily produces coatings, adhesives, and specialty polyester resins. The business has been consistently loss-making. After more than a year of attempting to sell the business without success, Evonik has opted for closure, affecting plants in Witten, Germany and Shanghai, China simultaneously.
The restructuring reflects the systemic pressures facing the European chemical industry. Energy costs remain more than three times higher than in North America, global overcapacity is being exacerbated by Chinese competition, and domestic demand remains weak. According to the German chemical industry association, capacity utilization in Germany was only 70% at the end of 2025, a historic low, with half of companies reporting severe order shortages.
