Wacker to cut jobs

Wacker Chemie has launched a project called PACE “to make significant cost savings in its production environment and administration set-up”. This comes in response to economic pressures that have already ensured the company will lose money this year.

The plan aims to save over €300 million/year by the end of 2027, with half coming a reduction in personnel. More than 1,500 jobs will cut worldwide, mostly in Germany. 

In announcing this, president and CEO Christian Hartel (pictured) said: “Particularly in Germany, the excessively high energy prices and bureaucratic obstacles continue to act as a central brake on the successful development of the chemical industry.”