Wacker Chemie agreed with employee representatives to cut roughly 1,600 positions in Germany by the end of 2027, part of a broader efficiency drive launched in October 2025.
The company seeks to generate €300 million in yearly savings, a target announced after a November press release that outlined plans to eliminate more than 1,500 jobs. With a workforce of 16,000, the cuts represent about 10% of staff.
Higher raw‑material prices, especially oil and gas, have tightened margins across the European chemical sector. By trimming overhead, Wacker aims to shore up profitability amid a volatile supply chain.
The agreement formalizes a framework for implementation, giving the company a clear roadmap to achieve its cost‑reduction goals before 2028.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing