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MOSCOW (MRC) -- Wacker Chemie AG is
moving forward with “Shape the Future,” its efficiency program initiated last
November. The Munich-based chemical company has recenly announced that
company management and employee representatives have agreed on a framework for
the planned job cutbacks, as per the company's press release.
In this
regard, some 1,000 jobs in total will go in Germany by the end of 2022. The job
cuts will affect mainly Wacker’s administrative departments and the indirect and
non-operational functions of its business divisions. In addition, 200 jobs will
be cut back at international sites.
The layoffs in Germany are to be
implemented exclusively with socially responsible and voluntary measures. These
include retirement, phased retirement or severance agreements. The recently
reached agreement excludes forced layoffs.
Moreover, it was decided that
qualified trainees will continue to be taken over. The company is thereby making
an important contribution toward offering young people an attractive career
perspective after they have completed their training. This policy also secures
Wacker’s access to well-qualified young professionals in future.
The
company confirmed that by reducing non-personnel costs and the scope of internal
services, and slimming down the organization, it will achieve its annual savings
goal of EUR250 million by the end of 2022. Half the total amount is accounted
for by non-personnel costs and the other half by personnel costs. WACKER is
expecting non-personnel-cost savings of over EUR50 million this year. In
2021, the amount saved is likely to exceed EUR100 million. Significant
savings in personnel costs are not expected before next year.
“The main
purpose of “Shape the Future” is to support the company’s profitable growth by
keeping WACKER’s organization aligned with customers’ needs and requirements,”
said CEO Rudolf Staudigl, explaining the focus of the program. “In both our
polysilicon business and our chemical divisions, we are preparing ourselves for
a harsher competitive environment. We not only want to achieve significant
cost-savings, but also to decisively strengthen WACKER for tomorrow’s challenges
and secure a long-term competitive-edge,” added Staudigl.
“With the
agreements we have just concluded, we have created the framework that will
enable us to go ahead quickly with the implementation phase of the planned
organizational changes. Together with the employee council, we will now work out
the personnel measures in detail,” said Executive Board member Christian Hartel.
“We are very satisfied that we have succeeded in achieving our goals with good
and fair solutions with this agreement,” emphasized Hartel.
As MRC reported earlier,
Wacker Chemie operates a 90 ktpa EVA compounding plant at the Ulsan site,
consisting of two lines. The second line with a capacity of 40 thousand tons of
products per year was launched in 2013.
According to MRC's DataScope,
September EVA imports to Russia fell by 30,32% year on year to 2,38 tonnes from
3,420 tonnes a year earlier, and overall imports of this grade of ethylene
copolymer into the Russian Federation dropped in January-September 2020 by 9,85%
year on year to 26,340 tonnes (29,220 tonnes a year earlier).
Wacker
Chemie manufactures and markets EVA dispersions under the VINNAPAS brand name.
VINNAPAS polymer dispersions are used in a wide range of industries: for the
production of complex thermal insulation systems, building and tile adhesives,
plaster, building mixtures and mortars, cement sealing slurries and
nonwovens. |
