German business is half-dead – first 100,000 fired

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German economy is going down much faster than expected,
problems in most sectors from banking to car, to chemical etc

only the big Dax30 fire 100,000

Removal of 100,000 Points

Many Dax companies have responded to the increasingly difficult environment and significant restructurings announced. According to the calculations of the “Handelsblatt” the Dax companies in the current year through measures such as early retirement schemes and severance pay a total of 100,000 jobs. Including other measures, the corporations seek savings programs a result of improvements of a total of 20 billion euros per year.

Is affected, especially the auto industry. She gets the trade war between the US and China, the economic slowdown in China, the Brexit and the fear of punitive US duties on Europe– made cars to feel. At the same time the auto industry needs a lot of money to invest in electric vehicles and Autonomous Driving.

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