WACKER specifies savings targets
Over 1,500 job cuts planned worldwide
Advertisement
In view of the tense business situation, WACKER launched a project called PACE in October to make significant cost savings in its production environment and administration setup. As already announced when the figures for the third quarter were presented, appropriate measures are currently being developed. They will focus primarily on fixed production costs. The company has now defined the target figure for the planned savings: The aim is to save more than 300 million euros a year in future. Half of the savings are to result from a reduction in personnel. More than 1,500 jobs are expected to be cut worldwide as part of the planned reduction. The majority of the jobs are to be cut at the Group's sites in Germany. The measures are to be fully implemented by the end of 2027.
"We are currently working on measures to achieve our cost-saving targets," says WACKER President and CEO Christian Hartel. "The aim is to reduce our costs to a competitive level through savings. This will put WACKER back on the road to success." At the same time, Hartel emphasizes the need for competitive framework conditions. "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."
Like many other companies in the chemical industry, WACKER is under economic pressure. When presenting the figures for the third quarter, the Group had already announced that the net income for 2025 would be negative.
Other news from the department business & finance
