Wacker and Clariant to cut jobs

Wacker Chemie says it will cut more than 1,000 jobs, about 7% of its workforce, by 2022 to save about $270 million anually. The firm hopes to make the cuts, mostly in Germany, without layoffs. “We are preparing for a harsher competitive environment—both in our polysilicon business and at our chemical divisions,” CEO Rudolf Staudigl says. Similarly, Clariant says it will cut 500–600 positions, about 3% of its workforce, in the next 2 years in anticipation of sluggish economic growth and negative effects from currency exchange. The Swiss firm says the cuts will save about $50 million.