Evonik Announces Additional Layoffs Amid Ongoing Reorganization
Additional Layoffs:
Evonik has announced another round of layoffs, affecting approximately 260 employees, as part of its ongoing "Evonik Tailor Made" reorganization program.
Total Job Cuts:
The company aims to cut up to 2,000 jobs worldwide by the end of 2026 to achieve significant cost reductions.
Cost Reduction Goals:
Evonik targets annual cost reductions of €400 million by the end of 2026, with 80% of these savings coming from personnel reductions.
Reorganization Plan:
The "Evonik Tailor Made" program aims to streamline the company's organizational structure, reduce administrative activities, and enhance efficiency.
Global Impact:
The majority of job cuts, around 1,500, will be made in Germany, with the rest affecting other global locations.