Facing mounting economic pressure, WACKER has launched a major cost-cutting initiative aimed at overhauling its production and administration. 

 

The project, named PACE, was launched in October with a clear goal: save more than €300 million annually, primarily through reductions in fixed production costs.

 

“We are currently working on measures to achieve our cost-saving targets,” said 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.”

 

Half of the planned savings will come from personnel cuts, with more than 1,500 jobs expected to be eliminated worldwide. Most of the reductions will occur at the Group's German sites, and the measures are set to be fully implemented by the end of 2027.

 

Hartel also highlighted broader challenges facing the industry: “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.”

 

The move comes as WACKER, like many chemical companies, struggles under economic pressure. The company had already warned when presenting third-quarter figures that net income for 2025 is expected to be negative.