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Evonik announced a restructuring that would cut its workforce by 7,000 jobs, reducing its four divisions to two and selling some business units. The move follows a March plan to cut 2,000 jobs and reflects high energy costs and inflation hurting German chemicals.
Evonik is a leading methionine supplier, and divestments or restructuring could alter its amino acid output and pricing discipline over time, though near-term price effects are likely limited.
brusselssignal.euCarl DeconinckDec 13, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
