German speciality chemicals company Evonik announced on Thursday that it will make further job cuts, reducing its global staff by 3,200 by the end of 2029, and terminating its polyester business.
The Essen-based company said 2,150 positions would go in Germany alone.
"The global political situation remains uncertain, and economic growth is persistently weak. At the same time, international competition is becoming increasingly fierce," chief executive Christian Kullmann said.
"We must become stronger in this environment. Our fate is in our own hands, and we are determined to seize our opportunities," Kullmann added.
The new cuts come on top of 2,800 jobs being cut between October 2023 to the end of this year. The company said it saw considerable potential through increased efficiency, digitalization, outsourcing and offshoring.
The company said that terminating the polyester business with annual turnover of around €150 million ($172 million) was economically unavoidable. It said that the site in Witten, with a staff of 266, would be closed in 2027, with further jobs going in Marl in Germany and Shanghai in China.
Labour head Thomas Wessel said the cuts would be implemented in a socially acceptable way and that the details would be finalized with social partners in coming weeks.
Kullmann has been restructuring the company for years. At the end of 2025, Evonik had a staff complement of 31,053, down by almost 900 from the 2024 figure.
