PVTIME – The German chemical company Wacker Chemie has announced plans to reduce its global workforce by 9% by the end of 2027, with the majority of job losses concentrated in Germany. This decision comes amid high energy prices and excessive bureaucracy in Europe’s largest economy, both of which the company cites as key challenges.
Having unveiled a cost-saving programme last month without providing details, Wacker has confirmed that it intends to achieve annual savings of over €300 million ($347 million) from the first quarter of 2026 to late 2027. Over 1,500 jobs will be lost worldwide, predominantly in Germany, accounting for around half of the targeted annual savings.
CEO Christian Hartel has emphasised that excessively high energy prices and bureaucratic barriers in Germany continue to hinder the successful development of the chemical industry. The company faces weak demand, intensified competition from Chinese manufacturers, supply chain issues and an economic slowdown, as well as tariffs introduced by former US President Donald Trump. These factors led Wacker to lower its full-year sales and core profit forecasts last month.
With 16,637 employees as of 2024, Wacker is a leading global polysilicon producer with three major production sites in Burghausen and Nünchritz (Germany) and Charleston (US). With an annual capacity of 80,000 metric tonnes, the company is a leading supplier of critical raw materials for the global PV and semiconductor sectors.
The company is currently in a strategic transformation phase for its PV business and plans to leverage a combination of technological upgrading, market focus and cost optimisation to maintain its traditional strengths while accelerating its shift towards high-value-added segments.
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