Tough times
In the extensive German car industry, more than 51,000 jobs have disappeared within a year, due to the difficult market conditions for car builders and suppliers. This is reported by consultancy and accountancy agency EY in an investigation.
It would amount to almost 7 percent of the total workforce in the German car industry. The researchers looked at the period of twelve months that ended at the end of June. German car companies including Volkswagen and Mercedes-Benz and also large suppliers such as Bosch and Continental cancel jobs to save costs. Factories also close.
The sector is struggling with weaker sales, overcapacity, high costs for transition to electric driving and unrest in the field of trade. But tens of thousands of jobs are also lost elsewhere in German industry. This applies, for example, to machine builders and steel producers.
Difficult Times
In The Extensive German Automotive Industry, More Than 51,000 Jobs Have Been Lost Within A Year, Due to the Difficult Market Conditions for Car Manufacturers and Suppliers. This is Reported by Consultancy and Accountancy firm EY in a Study.
This would amount to almost 7 percent of the total workforce in the German automotive industry. The Researchers Looked at the Twelve-Month Period Ending in June. German Car Companies Including Volkswagen and Mercedes-Benz, As Well as Major Suppliers Such as Bosch and Continental, Are Cutting Jobs to Save Costs. Factories are also closing.
The sector is Struggling with Waker Sales, Overcapacity, High Costs for the Transition to Electric Driving and Unrest in Trade. But also Elsewhere in German industry or thousands or Jobs Are Being Lost. This applies, for example, to mechanical engineering companies and steel producers.