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.
As announced on 13 December 2024, German speciality chemicals company Evonik Industries has announced that it will cut up to 3,600 jobs in Germany. 5,000 jobs worldwide are affected Evonik 2024 - WO.
The infrastructure business, with around 3,600 employees in Marl and Wesseling, is affected. The management board is currently exploring various options, including both a sale and a spin-off of the business unit. At the same time, Evonik is advancing the sale of its C4 chemistry operations in Marl, which employs 1,000 people, and its plant in Witten, with 400 employees.
Evonik plans to stream its operations from four business units to two: Custom Solutions and Advanced Technologies. Under the programme, the company is to cut about 500 management positions and reassign another 1,000 by 2027.
Together with the layoffs announced in March 2024, affecting 2,000 jobs Evonik 2024 - WO, Evonik will cut in total of 7,000 jobs worldwide.
Evonik is one of the world leaders in speciality chemicals. The company is active in more than 100 countries and employs more than 32,000 employees worldwide. The company produces a wide range of products, including amino acids for livestock feed, lipids for vaccines, and speciality chemicals for the cosmetics and pharmaceutical industries.
Eurofound (2024), Evonik, Internal restructuring in Germany, factsheet number 202316, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202316.
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