Chemicals – Covestro predicts job cuts – Economy

Chemical company Covestro faces job cuts. As part of a transformation agenda, global operations are monitored to see if they match strategy and contribute to sustainable growth, a spokesperson said. “In this context, there will also be personnel adjustments.” Duplicate structures should be removed and processes simplified. According to initial estimates, there are up to 1,700 jobs worldwide and more than 900 in Germany, which are expected to be cut by the end of 2023. Covestro currently has around 18,000 employees worldwide, of which 6,500 are in Germany . There should be no layoffs for operational reasons, downsizing should take place, for example, through severance pay.

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