Evonik, a specialty chemicals company, announced plans to restructure as part of an effort to reduce costs by around €400 million annually after the program’s completion in 2026. With the aim to become leaner, faster, and have a significantly reduced cost structure, up to 2,000 jobs will be cut worldwide, including management positions. The majority of these adjustments, around 1,500 jobs, will be made in Germany. Around 80 percent of these savings will derive from personnel reductions, the rest...