Industry giants lay off employees! The first demonstration application of new silicone products in China, a silicone product factory under investigation-Iota

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News > Dynamic industry > Industry giants lay off employees! The first demonstration application of new silicone products in China, a silicone product factory under investigation

Industry giants lay off employees! The first demonstration application of new silicone products in China, a silicone product factory under investigation

Market Overview: Today, the domestic DMC market prices have risen, with a reference average transaction price of 12750 yuan/ton, an increase of 50 yuan/ton from the previous working day. Thanks to the support of pre-sale orders, individual factories have a strong willingness to raise prices, and downstream enterprises still have a wait-and-see attitude, maintaining on-demand procurement. On the raw material side, the price of silicon metal remains stable. Supply side: Based on pre-sale order delivery support, many domestic individual factories have no inventory pressure. Demand side: Downstream maintains essential replenishment.
▶ Industry giants continue to lay off employees! Or it may exceed one-fifth of the total number of employees in the enterprise! Recently, according to Reuters, Evonik is expected to launch its largest restructuring plan in history to streamline its business, which may affect 7000 people (Evonik currently has 32000 employees, with layoffs exceeding one-fifth of the company's total workforce).
Based on the news released on the official website of Yingchuang, it stated that it will implement a new business sector structure and adopt a more streamlined management model. Among them, it involves changes in business sector structure, executive changes, streamlining, etc. According to Reuters, Christian Kullmann, Chairman of the Winco Industries Group, revealed that Winco may spin off its business at its Marl and Wesseling factories, which have 3600 employees, and these assets can be transferred to joint ventures or sold. Including the ongoing sales plan, Evonik may ultimately lay off about 7000 employees. It is worth noting that this is not the first time that Winco has implemented a layoff plan. As early as March this year, Winco announced plans to lay off up to 2000 positions globally, including excessive management positions, and expects to reduce costs by 400 million euros (approximately 3.1 billion yuan) annually by 2026, with 80% coming from layoffs and the rest from reduced raw material costs. At that time, Maike Schuh, Chief Financial Officer of Evonik, stated, "Concentrating cash is the top priority during difficult times, and we need to ensure that the company can operate normally. Although these measures are painful, they are effective, so Evonik will continue to reduce costs and increase efficiency this year." Along with the layoff plan, Evonik's 2023 financial report was also released: sales fell 17% year-on-year, with a net loss of 465 million euros (approximately 3.555 billion yuan). It should be noted that all four major businesses have declined. Christian Kullmann stated that what Evonik is experiencing is not cyclical fluctuations, but rather significant and indirect changes in the economic environment. At the time, he stated that he was addressing the challenges through the "Evonik Tailor Made" program and would completely change the organizational structure of Evonik. Now it appears that Winco is further reducing costs and increasing efficiency, and has expanded the scale of layoffs.

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