Wacker Chemie AG announced new cost-saving targets as part of its PACE restructuring program, which launched in October. According to the company, the plan aims to reduce more than 300 million euros a year by cutting fixed production and administrative costs. WACKER said more than 1,500 jobs will be eliminated worldwide, with most reductions occurring in Germany. Implementation is scheduled to begin in the first quarter of 2026 and be completed 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."

WACKER said it remains under economic pressure and had previously indicated that net income for 2025 is expected to be negative.