Evonik to Cut 3,200 Jobs Globally, Divest Oxeno and Synect by 2029

Evonik announced a global workforce reduction of 3,200 jobs by 2029, including 2,150 in Germany, and plans to divest its Oxeno and Synect subsidiaries. The restructuring signals cost pressures in the European chemical sector amid weak demand and high energy costs. Market impact is moderate, reflecting sector-specific headwinds rather than a broad macro shift.