Germany’s Wacker Chemie Slashes 1,500 Jobs in Cost-Savings Push

Wacker Chemie AG plans to cut more than 1,500 jobs to reduce expenses as the German chemicals maker grapples with high energy costs, tariffs and muted demand.

The reductions represent around 9% of the company’s workforce and will contribute to saving more than €300 million ($348 million) a year in the future, Wacker said Thursday. Most of the positions will be cut in Germany.