Finance
German chemicals union pushes for investments at Evonik amid restructuring
Published by Global Banking & Finance Review®
Posted on December 13, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 13, 2024
1 min readLast updated: January 27, 2026
The IGBCE union insists Evonik prioritize investments over shareholder distributions during its major restructuring, potentially affecting 3,600 employees.
(Reuters) - Germany's IGBCE union on Friday said it would ensure Evonik's restructuring programme included investments and not only focus on downsizing its business, adding those need to be prioritised over the distribution of money to shareholders.
The German chemicals maker had announced it aimed to slim down its business by starting the biggest restructuring programme in its history, potentially reducing its workforce by more than a fifth.
"In the current phase, investments must take priority over distributions to shareholders," said union official Alexander Bercht, who also sits on the supervisory board of Evonik.
He added that no decision had been made on a potential spin-off of activities at Evonik's Marl and Wesseling sites, which would affect 3,600 employees.
(Reporting by Matthias Inverardi, writing by Linda Pasquini, editing by Thomas Seythal)
The main topic is the IGBCE union's push for Evonik to focus on investments rather than downsizing during its restructuring.
Evonik is planning the largest restructuring in its history, which may reduce its workforce by over 20%.
Alexander Bercht is a union official and member of Evonik's supervisory board advocating for investment priorities.
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