Wacker Chemie to Cut Over 1,500 Jobs, Primarily in Germany

According to a Reuters report, on November 27, 2025, the German chemical company Wacker Chemie announced plans to cut approximately 9% of its workforce by the end of 2027, with the majority of job reductions concentrated in Germany. The company attributed the layoffs to high energy prices and excessive bureaucracy in Europe's largest economy, Germany.

Wacker Chemie had announced a cost-saving plan last month without disclosing specific details. The company stated that its goal is to save more than €300 million annually. This plan is scheduled to be implemented from the first quarter of 2026 until the end of 2027 .

The company said that the planned reduction of over 1,500 positions globally, primarily in Germany, is expected to contribute about half of the targeted annual cost savings .

Wacker Chemie CEO Christian Hartel stated, "Particularly in Germany, excessively high energy prices and bureaucratic obstacles continue to act as a significant brake" on the success of the chemical industry .

Wacker Chemie has been facing dual pressures of weak demand and intensified competition from Chinese producers .

Last month, the company lowered its full-year sales and core profit expectations, citing weak demand and competitive pressures from China .

As Germany's third-largest industry, the chemical sector continues to suffer from sluggish demand, high energy costs, supply chain issues, and an economic slowdown, exacerbated by US tariff policies .

This situation continues to dampen industry confidence. Although there are signs that the chemical industry's downturn may have bottomed out, the German Chemical Industry Association (VCI) does not expect a recovery for the sector before 2026 .

As of September 30, 2025, Wacker had a global workforce of 16,616 employees. This included 10,770 employees in Germany and 5,846 employees outside of Germany.