German auto sector hits 20-year employment low
Germany's automotive industry employment dropped to its lowest level since 2005, with a loss of 42,300 jobs over the past year, driven by cost-cutting measures and weak sales in China.
Consensus
- The number of people employed in Germany's automotive industry reached a minimum since 2005.
- The automotive sector lost 42,300 jobs in the past year.
- The job loss represents a 5.8% decrease in employment within the sector.
- The decline is attributed to cost-cutting measures by German companies.
- The automotive industry is the second-largest employer in Germany, after mechanical engineering.
- The data is based on statistics from Germany's Federal Statistical Office (Destatis).
Points of divergence
- The industrial sector in Germany lost 144,000 jobs over the year, with the automotive industry being the most affected. — vesti
- Volkswagen is considering cutting 100,000 employees and closing several factories. — interfax
- BMW plans to cut several thousand employees in Germany by the end of 2027. — vesti
Coverage (2 sources)
- Employment in Germany's automotive sector has fallen to a 20-year low — Интерфакс
- Employment in the German automotive industry has fallen to a minimum since 2005 — Вести