BERLIN / LONDON (IT BOLTWISE) – The German auto industry is experiencing historic job cuts, reaching their lowest level since 2011. 48,700 jobs were lost in one year due to a combination of weak demand, structural changes and high energy costs. Other industries such as mechanical engineering and chemicals are also reporting declines, while the food industry is the only sector to record growth.
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The German auto industry is facing one of the biggest upheavals in recent decades. 48,700 jobs were lost in one year, marking the lowest level since 2011. This development is not only due to weak demand, but also to profound structural changes and high energy costs that are putting a strain on the industry. The supply industry, which is particularly suffering from these conditions, has been hit particularly hard.
While the automobile manufacturers themselves also reduced their workforce, the decline in the supplier industry is even more serious. These companies face the challenge of adapting to changing market conditions driven by the transition to electric vehicles and digitalization. The high energy costs further exacerbate the situation as they drive up production costs and impair the competitiveness of German industry.
Other industrial sectors such as mechanical engineering and the chemical industry are also recording a decline in employment. 2.2 percent of jobs were lost in mechanical engineering, while the chemical industry reported a decline of 1.2 percent. These developments reflect the challenges facing the entire German industry as it has to adapt to new technologies and market requirements.
However, amidst these challenges, there are also positive developments. The food industry is the only major industry to record employment growth of 1.8 percent. This shows that despite the general economic uncertainties, there are also sectors that can benefit from the current market situation. Experts emphasize the need for an active industrial policy to strengthen key sectors and secure industrial employment in the long term.
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