Wacker: No layoffs, just pay cuts

November 21, 2003 – Wacker Siltronic says it will implement pay cuts at its Burghausen site in order to avoid layoffs. The decision, which calls for a 5% reduction in annual compensation from 2004-2008, and a 60% reduction in year-end payments from 2004-2006, is part of a collective-bargaining agreement for the 3000 employees at the facility. Last month Wacker announced plans to restructure its 200mm wafer operations, closing its Wasserburg site and transferring the production to facilities in Singapore and the US.


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