Announced layoffs in the automotive industry and suppliers (last 12 months):
• Volkswagen: 35,000
• Mercedes-Benz: 40,000
• Audi: 7,500
• Ford (Saarlouis): 2,900
• Daimler Truck: 5,000
• ZF Group: 14,000
• Bosch, Continental, Schaeffler (total): 7,000
→ Total: 111,400 affected jobs in the automotive industry
Redundancies in steel and heavy industry:
• Thyssenkrupp: 11,000 (≈40% of the workforce)
Redundancies in the railway and transport sector:
• Deutsche Bahn: 30,000
• DB Cargo (subsidiary): 5,000
Redundancies in the postal and logistics sector:
• Deutsche Post: 8,000
Redundancies in banking and finance sector:
• Commerzbank: 3,900
Layoffs in the technology sector (specific to Germany):
• SAP: 3,500 (10,000 globally)
For too long, German industry has been held hostage by many negative policies and phenomena that have made it unable to keep up with the competition, and this is a huge loss for the EU and all of us who live in countries that are economically quite dependent on trade with Germany.
Excessive regulation, populism of politicians, failed energy policies, giving in to trade unions and a firm corporate mentality (which, along with regulation, is the greatest enemy of innovation) - are some of the reasons that drag the German and EU economy down.
Let's hope that Germany will still learn from all this and have the strength to turn around!
#Germany #industry #EU #economy #regulation #innovation
