How many total jobs will Evonik cut by the end of 2029, and what percentage of its current global workforce does that represent?

Evonik will cut a total of 6,000 jobs by the end of 2029, which represents around 19% of the company’s current global workforce.

Why is Evonik discontinuing its polyester business, and what are the financial and operational implications cited in the news?

Evonik is discontinuing its polyester business in 2027 because it has not been profitable for years, generates around €150 million in annual revenue, and faces 'global competitive pressure, structural disadvantages in Europe, and declining market dynamics'—making all alternatives 'economically unviable in the long term'; the closure will affect sites in Witten (266 jobs), Marl (45 jobs), and Shanghai (35 jobs).

Evonik to Cut 3,200 More Jobs, Discontinue Polyester Business

Jun 18, 2026

Evonik Industries announced an extension of its restructuring program, cutting 3,200 additional jobs by 2029 and discontinuing its unprofitable polyester business by 2027. The move aims to improve efficiency amid weak economic growth and fierce international competition.

chemweek

Evonik to Cut 3,200 Jobs and Discontinue Polyester Business

chemweek

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