Massive Industry Layoffs! BASF, Evonik, Dow, Wacker, and Others: Over 12,550 People in Total!

Since May, Wacker, BASF, Continental's ContiTech, Evonik, and others have been planning or have already begun reducing the vast majority of their positions, totaling more than 5,700 people.

On May 8, Wacker Chemie reached an agreement with employee representatives to cut approximately 1,600 jobs in Germany by the end of 2027, representing about 10% of its global workforce.

This move is a core measure of the "PACE" efficiency optimization program launched in October 2025, aiming to save €300 million annually. The reductions will be carried out through voluntary departures and early retirement, with no forced layoffs. The breakdown includes 1,300 at the Burghausen headquarters and largest site, 200 at the Nünchritz site, 60 in the Munich area, and 50 at other German sites.

According to reports, Alex Lidback, Vice President at ICIS, pointed out: "The global petrochemical market is unlikely to recover in the short term, and companies must make difficult decisions and adjust their scale accordingly." Data from the German Chemical Industry Association shows that industry capacity utilization has fallen to a historic low of 70%. This wave of layoffs essentially reflects a structural cleansing of the industry under a long-term supply-demand imbalance.

Summary of Layoff Moves by Global Chemical Giants:

• January 29: Dow Chemical launched its "Transformational Efficiency" comprehensive restructuring plan, planning to cut approximately 4,500 positions, or 13% of its global workforce. It expects to incur 1.1–1.5billioninone−timecosts,targetinganoperationalEBITDAimprovementofatleast1.1–1.5billioninone−timecosts,targetinganoperationalEBITDAimprovementofatleast2 billion.

• February 26: Arkema announced that its headcount will decrease by about 3% per year over the next three years, with an expected reduction of approximately 1,800 people.

• March 19: LANXESS announced plans to cut another 550 jobs, of which about two-thirds are in Germany, aiming to achieve permanent annual cost savings of around €100 million by the end of 2028.

• May 9: BASF laid off about 100 employees at its McIntosh, Alabama, plant, nearly half of the site's workforce, due to rising costs and industry pressures making the plant unprofitable.

• May 9: Continental's ContiTech announced it will cut approximately 3,000 jobs globally, of which about 1,600 are in Germany. The company has reached an agreement with the German mining and chemical energy union on the framework conditions for the layoffs. The plan prioritizes voluntary measures, with no forced redundancies before the end of 2030. It is part of Continental's cost-saving program announced in November 2025, aiming to save €150 million annually from 2028.

• May 9: Evonik Industries announced that in 2026, through its three-year "Evonik Customized" efficiency improvement program combined with business unit optimization measures, it will cut a total of 1,000 jobs globally. The company had already reduced over 850 full-time positions in 2025. By the end of 2026, the cumulative layoffs will reach 2,000, of which 1,500 are in Germany. Management layers will be compressed from 10 to a maximum of 6 levels. There are currently no large-scale layoff plans in China.

The above summarizes the layoff trends of global chemical industry leaders as of May 11, 2026, totaling over 12,550 people!