EMCC European Monitoring Centre on Change

Wacker Chemie

Company/Organisation:
Wacker Chemie

Geographic Location

Country: Germany
Location of affected unit(s): Munich and other locations

Company

Sector: Professional services
Scientific research and development
72.1 - Research and experimental development on natural sciences and engineering
Number Employed: 10000
Group: Wacker

Employment Effects

Announcement Date: 20-02-2020
Planned Job Reductions min: 800
Planned Job Reductions max: 800
Type of Restructuring: Internal restructuring
Employment Effect Start: 20-02-2020
Foreseen End Date: 20-02-2023
Other Job Reduction Measures: 800

Additional Information

As announced on 20. February 2020, the German chemical company Wacker Chemie plans to cut 800 jobs in Germany due to internal restructuring in the coming three years. The job reduction is part of a global saving programme, which aims to save up to €250 million in costs in order to strengthen the company’s competitive position on the market. Globally, Wacker will cut 1,000 positions. As the restructuring plan intends to reduce mostly administrative and supportive positions, it is expected that the headquarters in Munich will be heavily affected by the decision. Wacker plans to exclude compulsory terminations. Negotiations regarding a social plan will start shortly. 

Wacker has 14,500 employees worldwide and 10,000 employees in Germany.