Wacker Chemie has announced a cost-saving initiative expected to generate savings of over 300 million euros per year. This includes reducing its global workforce by 1,500 jobs, primarily in Germany. The project, called PACE, will begin in the first quarter of 2026 and be completed by the end of 2027. “The aim is to reduce our costs to a competitive level through savings,” said CEO Christian Hartel.

Like many other companies in the chemical industry, Wacker is under economic pressure. When presenting the figures for the third quarter, the company announced that net income for 2025 would be negative. “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,” said Christian Hartel.

• Wacker Chemie AG, Munich, Germany