Wacker Chemie Cost-Cutting Plan Disclosed, Plans Global Layoffs of Over 1,500 People!

Cost Reduction Plan:

The annual cost-saving target is set at over 300 million euros.

- Plans to lay off more than 1,500 people globally

The project team is developing measures to achieve the goals.

- Implemented in the first quarter of 2026 and completed by the end of 2027.

Special Plastic World reported on November 28 that WACKER Chemie plans to cut more than 1,500 jobs worldwide as part of a major cost-saving initiative. The majority of these cuts are expected to occur at its facilities in Germany.

Faced with a challenging business situation, WACKER launched a project called "PACE" in October, aimed at significantly reducing costs in production and administrative management. As disclosed during the third-quarter financial report, the company is currently formulating specific measures, with a focus on optimizing fixed production costs.

Wacker Chemie has now set a clear savings target: it plans to achieve cost savings of over 300 million euros each year in the future and aims to lay off more than 1,500 employees worldwide. Relevant measures will start in the first quarter of 2026 and will be fully completed by the end of 2027.

"We are currently implementing various cost-saving measures," said Wacker Chemie President and CEO Christian Hartel. "Through cost reduction, we aim to bring operating costs down to a competitive level, putting Wacker Chemie back on the path to success." At the same time, Hartel emphasized the importance of a competitive policy environment: "Especially in Germany, excessively high energy prices and bureaucratic obstacles remain key factors hindering the successful development of the chemical industry."

Like many companies in the chemical industry, Wacker Chemie is facing significant economic pressure. The group has already announced in its third-quarter financial report that net profit will show a loss in 2025.