News Markets & Companies

Is Wacker Chemie planning cost savings? – “PACE” project aims to reduce expenses

According to a report by the financial portal onvista, citing Reuters, Wacker Chemie is considering wide-ranging cost-cutting measures due to the challenging market situation. The Oberbayerisches Volksblatt (OVB) reports that up to 1,000 jobs could be affected. The company has so far only confirmed plans to cut costs but has not provided specific figures.

Wacker
Wacker Chemie is reportedly reviewing cost reduction measures; no specific details regarding potential job cuts have been confirmed. Source: sevector - stock.adobe.comtanks chimneys, valves infrastructure, engineering production pipes petrochemical plant

The Munich-based specialty chemicals company Wacker Chemie is reportedly preparing a cost-reduction programme. According to onvista and Reuters, an internal team has been working since early October on a project named “PACE”, aimed at achieving significant and sustainable cost savings in production and administration. The company stated that the first measures are expected to be implemented in the first quarter of 2026.

Wacker has already started discussions with employee representatives. However, no information has been given on the potential scope of the job cuts or possible site closures. According to a report published by the Oberbayerisches Volksblatt (OVB) on 31 October 2025 – also featured in the Mühldorfer Anzeiger, Chiemgau-Zeitung and Mangfall-Bote – rumours of more than 1,000 job losses at the Burghausen site have caused concern among staff. A company spokesperson told the newspaper that this number could not be confirmed at present.

Weak demand weighs on chemical industry

Like many other chemical producers, Wacker Chemie is facing significant economic pressure. The company cites weak demand, a challenging market environment and growing competition, particularly from China. In July, Wacker cut its profit and sales forecast, while other major players such as BASF also reported sluggish market activity. The company plans to publish its third-quarter results on Thursday.

Note: The information is based on a report by onvista, which refers to the Reuters news agency. As no official statement from the company has been released, the current reports remain speculative.