Wacker Chemie Cuts 1500 Jobs, Blames China, Energy Costs
Update: 2025-11-27
Description
Wacker Chemie, a German chemical company, plans to cut over 1,500 jobs to reduce costs and compete better with Chinese rivals, adding to Germanys joblessness concerns. CEO Christian Hartel aims to bring costs down to a competitive level. This move follows similar job cuts by other German companies due to economic challenges, including low domestic investment, high energy costs, and increased competition from China and other economies. ING economist Carsten Brzeski noted Germanys loss of international competitiveness due to underinvestment and Chinas rise. Other major German companies across sectors are also announcing job reductions, highlighting the ongoing stagnation in the German economy. Wacker Chemie cited high energy prices and bureaucracy as obstacles to growth, predicting a net loss this year due to a weak chemicals market and intense competitive pressure, particularly from China.
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