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 11 October 2024, the chemical company Evonik Industries will discontinue the production of keto acids for pharmaceutical applications at its Hanau site by the end of 2025. This decision affects 260 of the 3,500 employees at the location.
The business has not been profitable for five years, mainly due to competition from China and the transformation of the chemical industry. Evonik intends to focus on other core businesses. Socially responsible solutions are being sought for the affected employees, including an internal job placement service. The agreed protection against layoffs for operational reasons in Germany remains in effect until the end of 2032.
The previous worldwide restructuring programme of Evonik from 2024 can be found here Evonik-2024-WO.
Eurofound (2024), Evonik Industries, Internal restructuring in Germany, factsheet number 201740, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201740.