Lay off 1,700 people! The chemical giant lays off 10% of its global employees​!

According to union sources, the German chemical giant Covestro plans to lay off up to 1,700 employees, equivalent to about 10% of its global workforce.

The layoffs may affect up to 950 jobs in Germany.

Covestro confirmed the news and said these figures are only preliminary estimates. A spokesperson for the company said that there will be further updates in the coming months.

A company spokesperson said that as part of the transformation plan, it is checking whether global activities are in line with strategy and contribute to sustainable growth. "In this context, there will also be personnel adjustments." Eliminate the repetitive structure and simplify the process. According to preliminary estimates, by the end of 2023, there will be as many as 1,700 jobs worldwide and more than 900 jobs in Germany. The spokesman said that these figures are "absolutely not set in stone."