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Evonik to reduce workforce in its pet food division

Evonik, a German specialty chemicals company, has revealed plans to restructure its pet food division, which will include approximately 200 job cuts globally and an expected cost reduction of €200 million ($216.50 million) starting from 2025. The company also stated that its specialties and amino acids businesses will operate independently with different business models. The restructuring aims to streamline the company’s operations and increase efficiency. The announcement comes as Evonik seeks to adapt to changing market conditions and remain competitive in the face of evolving consumer demands.

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