Wacker Chemie to draw up cost cutting plans: CFO

FRANKFURT (Reuters) – Wacker Chemie <WCHG.DE> is drawing up cost cutting plans in response to falling prices of polysilicon, step which will include job cuts, chief financial officer Tobias Ohler told Germany’ Boersen-Zeitung.

The company-wide review will look at cost optimization potential and at the areas of administration, research and development and procurement, and will seek to cut by attrition, Ohler told the newspaper.

In December, Wacker said it would take an impairment fixed assets of around 750 million euros in response to the fall in the price of polisilicon.

(Reporting by Edward Taylor; Editing by Alexander Smith)

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