7. Employees and Pension Obligations

As of June 30, 2023, the Covestro Group had 17,591 employees worldwide (December 31, 2022: 17,985). In the first half of 2023, personnel expenses increased by €20 million to €1,134 million (previous year: €1,114 million) and were therefore approximately at the previous year’s level.

Download

Employees by division¹

Dec. 31, 2022

June 30, 2023

Production

11,760

11,949

Marketing and distribution

3,261

2,851

Research and development

1,477

1,385

General administration

1,487

1,406

Total

17,985

17,591

¹	The number of employees on either permanent or temporary contracts is stated in full-time equivalents (FTEs). Part-time employees are included on a pro-rated basis in line with their contractual working hours. Employees in vocational training are not included.

Provisions for pensions and other post-employment benefits decreased to €445 million (December 31, 2022: €486 million). This is mainly attributable to the return on plan assets.

Download

Discount rate for pension obligations

	Dec. 31, 2022	June 30, 2023
	%	%
Germany	3.70	3.70
United States	4.90	4.90

Half-Year Financial Report 2023

Financial Documents

7. Employees and Pension Obligations