The chemical company Covestro is facing job cuts. As part of a transformation program, global activities are being checked to see whether they fit the strategy and contribute to sustainable growth, said a spokesman. “In this context, there will also be personnel adjustments.” Duplicate structures are to be abolished and processes simplified. According to initial estimates, there are up to 1,700 jobs worldwide and more than 900 in Germany, which should be eliminated by the end of 2023. Covestro currently has around 18,000 employees worldwide, 6,500 of them in Germany. There should be no redundancies for operational reasons, the downsizing should take place, for example, through severance payments.