MUNICH (dpa-AFX) - Wacker Chemie has reached an agreement with employee representatives regarding the details of the job cuts planned since last autumn. The chemical group announced on Friday that a socially responsible plan has been agreed upon to cut approximately 1,600 positions in Germany. This will be achieved through a voluntary program involving partial retirement schemes and severance agreements. Furthermore, all employees in Germany will make a solidarity contribution through 2028, specifically a four percent reduction in working hours and pay. This measure is intended to prevent compulsory redundancies.
The plan involves cutting 1,300 jobs at Wacker's largest global site in Burghausen, 200 positions in Nünchritz (Saxony), 60 positions at the corporate headquarters in Munich, and a total of 50 positions across other German locations. As of the end of March, Wacker Chemie employed nearly 16,200 people worldwide, with approximately 10,600 based in Germany.
The MDax-listed group initiated the cost-cutting program in response to a prolonged industry downturn. The ultimate goal is to reduce annual costs by more than 300 million euros./mis/men
