Germany's Chemical Industry Faces Decline

The number of full-time jobs at Bayer has fallen to less than 30,000 for the first time since 1954, with the company having laid off around 7,000 employees worldwide since the beginning of 2024. The German chemical industry is facing a severe crisis due to rising energy costs, bureaucracy, weak domestic and European demand, and increased competition from Asia, especially China. This has led to a decline in production and investments, an increase in costs, and the closure of many facilities. Although there was a temporary improvement in the business climate in July 2024, the ongoing effects remain evident, with persistent challenges threatening the future of the sector and its impact on various parts of the German economy.

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