Business · Economy · 2 hrs ago

German metal industry warns 300,000 more jobs could be at risk

German metal industry warns 300,000 more jobs could be at risk

Gesamtmetall says 300,000 more jobs are at risk in Germany’s metal and electrical industry over the next two to three years.

The employers’ group says the industry has already lost 350,000 jobs since 2019.

If the further cuts happen, Gesamtmetall says employment could fall to 3.4 million, its lowest level since German reunification in 1990.

The warning comes during a pay dispute with IG Metall, the industry’s union, which is seeking a 5% pay rise over 12 months and protections for jobs and sites.

Employers have made a lower pay offer, which the union has rejected, and workers have begun warning strikes.

The wage negotiations are still under way, while Gesamtmetall’s job-loss figure is a warning, not a confirmed outcome.

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What people are saying

Oliver ZanderGesamtmetall chief executive
In view of underutilisation, another 300,000 jobs in the metal and electrical industry alone are at risk over the next two to three years.
via t-online
The situation is catastrophic, many companies are fighting for survival and there is no improvement in sight.
via t-online
The IG Metall demand for five percent for twelve months is therefore irresponsible.
via Bild