The German economy is facing a challenging year: according to a recent survey by the German Economic Institute (IW), four in ten companies plan to cut jobs in the coming year. Industry is particularly affected.
Given the weakening economy, many German companies want to cut back on staff, according to a survey.
According to an analysis by the employer-related Institute for the German Economy (IW), four in ten German companies plan to cut jobs in the coming year, as the Handelsblatt reported on Wednesday. Industry is particularly affected. “The increase in employment in Germany that has been going on since 2005 has come to an end.”
There are no signs of a turnaround yet
The reason for the gloomy outlook is the poor economy. That’s why 40 percent of the more than 2,000 companies surveyed expected their business prospects to be worse next year. Only a fifth are confident in 2025.
The economists concluded that “no signals for an economic turnaround in Germany could be derived from the study.” The Federal Republic is threatened with “a new year of economic immobility”.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
