The economic crisis in Germany has led to the loss of more than 100,000 jobs in industry, with the automotive sector worst hit
Raluca Niculae
International
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EY analysis shows that German industry lost 100,000 jobs in one year, mostly in the automotive sector, with 45,400 employees affected. By the end of the first quarter, the total number of employees in the industry had fallen by 1.8%, and forecasts point to another 70,000 job cuts. Chinese competition and weak demand are contributing to the losses. Although long-term employment has increased, critics warn of the risks of deindustrialization and call for reforms to improve Germany's competitiveness as a business hub.
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