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Evonik latest sign of consolidation across mature industrial markets

German speciality chemicals company Evonik has announced a further restructuring programme that will see around 3,200 jobs cut globally between 2027 and 2029, alongside its planned exit from the polyester…

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Evonik latest sign of consolidation across mature industrial markets
German speciality chemicals company Evonik has announced a further restructuring programme that will see around 3,200 jobs cut globally between 2027 and 2029, alongside its planned exit from the polyester business. The announcement follows an earlier restructuring initiative that is expected to eliminate approximately 2,800 positions by the end of 2026. 

As reported in The Recycler, the latest measures reflect wider structural changes affecting industrial markets, where manufacturers are responding to weaker demand, rising costs and increasing international competition by simplifying operations and focusing on higher-value activities. 

Evonik is the latest example of a broader trend towards consolidation across Europe's industrial sector, with businesses reshaping portfolios and reducing costs to remain competitive in a challenging economic environment.

Read more at The Recycler
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