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Crisis in Europe's largest economy deepens

Up to 300,000 jobs could be cut in German industry

Oct 17, 2024 07:37 105

Crisis in Europe's largest economy deepens  - 1

Gesamtmetall, the German employers' union in the metallurgical and electrical industries, believes that in the next up to 300,000 jobs could be cut over five years.

„I expect that in the next 5 years we may lose 250,000 to 300,000 jobs in the metallurgical and electrical industries,” Gesamtmetall president Stefan Wolff said in an interview with media group Funke< span>. At the same time, he noted that there is a shortage of workers. “In this regard, we will have to work harder, despite the job cuts”, stated the president of Gesamtmetall.

Earlier, German Chancellor Olaf Scholz stated that Germany needs labor from Europe and other countries around the world.