Tag #German Economy

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German Auto Industry Job Losses Hit 51,500 Amidst Export Slump

Germany's auto industry lost 51,500 jobs in the past year, largely due to decreased exports to the US (10% decline) and China (14% decline), leading to cost-cutting measures and a bleak outlook for young engineers.

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dw.com
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German Auto Industry Suffers 7% Job Losses Amidst Economic Crisis

A new EY study reveals that the German automotive industry has shed approximately 51,500 jobs (7% of the workforce) in the past year due to economic factors including competition from China, high energy costs, and US tariffs; broader industrial job losses reached 114,000.

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zeit.de
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Porsche Halts Cellforce Battery Production, Laying Off 200 Employees

Porsche's Cellforce battery subsidiary will lay off around 200 employees by November 30th, halting production due to slower-than-expected electric vehicle market growth and economic infeasibility, resulting in €295 million in write-downs and raising questions about the repayment of €56 million in pu...

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sueddeutsche.de
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Unicredit Increases Commerzbank Stake, Sparking Takeover Speculation

Unicredit boosted its Commerzbank shareholding to around 26 percent, potentially triggering a takeover bid if it reaches 30 percent; this move is met with resistance from the German government and Commerzbank, raising concerns about job losses and branch closures.

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zeit.de
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Germany's National Debt Falls Significantly in First Half of 2025

Germany's national debt fell to €28.9 billion in the first half of 2025, a €19.4 billion decrease compared to 2024, driven by lower federal and state deficits, but offset by a rise in municipal debt. Increased tax and social security revenues contributed to this improvement, although future defense ...

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sueddeutsche.de
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Baden-Württemberg Firms Show Growing Interest in Defense Industry

Baden-Württemberg companies show a sharply rising interest in defense industry partnerships, with the IHK Bodensee-Oberschwaben seeing increased inquiries, although direct system supply is challenging; around 14,500 people worked in the sector in 2022, and an info event drew over 300 attendees.

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sueddeutsche.de
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German Advisory Board Warns Against Unbridled Industrial Subsidies

Germany's scientific advisory board to the Federal Ministry of Economics warns against excessive industrial subsidies, citing a 0.3% economic contraction in Q2 2025 and a €67 billion budget for state aid in 2024, advocating for deregulation and debureaucratization instead.

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dw.com
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German Automotive Sector Faces Deep Crisis with 51,500 Job Losses

Germany's manufacturing sector, especially its automotive industry, is facing a deep crisis, with approximately 51,500 job losses in the automotive sector alone within a year, representing a 7% decrease. This is reflected in the overall decline of 2.1% in manufacturing jobs across all sectors except...

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welt.de
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Porsche Halts Cellforce Battery Production, Laying Off 200 Employees

Porsche's Cellforce battery subsidiary will lay off roughly 200 of its 280 employees by November 30th, ending its battery production plans due to insufficient global demand for electric vehicles and economic constraints, despite receiving approximately €56 million in government subsidies.

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elmundo.es
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German Economy Contracts Sharply in Q2 2025

Germany's GDP unexpectedly contracted by 0.3% in Q2 2025, driven by a decrease in exports and increased imports, despite a slight rise in domestic consumption; this contrasts with the growth seen in other major European economies.

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faz.net
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Germany's Economy Contracts Sharply in Q2 2024

Germany's economy shrank by 0.3 percent in Q2 2024, worse than the initial estimate, due to weak industrial production and dampened consumer spending; the government's new borrowing decreased to 28.9 billion euros in the first half of the year.

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dw.com
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Deutz AG Increases Military Contracts Amidst NATO's Defense Spending Surge

Facing economic headwinds, Deutz AG, Germany's oldest engine manufacturer, plans to significantly increase its military contracts to 5–10% of revenue within five years, driven by NATO's increased defense spending and a need for adapting engines to military fuel standards.

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Showing 13 to 24 of 560 results