Tag #Short-Time Work

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zeit.de

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Jul 3, 07:15

HanseYachts Announces Short-Time Work, Layoffs Amidst Debt Reduction"

HanseYachts in Greifswald, Germany, is implementing short-time work for its nearly 740 employees from mid-July to end of August due to low orders and will conduct phased layoffs of 190 employees by year's end; the state government agreed to a debt reduction.

HanseYachts Announces Short-Time Work, Layoffs Amidst Debt Reduction"

HanseYachts in Greifswald, Germany, is implementing short-time work for its nearly 740 employees from mid-July to end of August due to low orders and will conduct phased layoffs of 190 employees by year's end; the state government agreed to a debt reduction.

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What systemic factors contributed to HanseYachts' financial difficulties, and how did the government respond to the crisis?

The short-time work measure follows previously announced layoffs of 190 employees by year's end. This restructuring is attributed to weak economic conditions in key markets like the US and Germany, prompting a planned change in ownership with Aurelius, the previous majority shareholder, selling its shares to Andreas Müller and Hanjo Runde.

welt.de

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Dec 18, 16:15

Germany Extends Short-Time Work Benefits to 24 Months

The German Cabinet extended short-time work benefits to 24 months until December 31, 2025, to counter rising unemployment (268,000 in September 2024, 76% more than last year), primarily affecting manufacturing sectors like machinery and automotive production, aiming to support businesses and retain ...

Germany Extends Short-Time Work Benefits to 24 Months

The German Cabinet extended short-time work benefits to 24 months until December 31, 2025, to counter rising unemployment (268,000 in September 2024, 76% more than last year), primarily affecting manufacturing sectors like machinery and automotive production, aiming to support businesses and retain ...

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What is the immediate impact of the German government's extension of short-time work benefits on employment and businesses?

The German government extended the eligibility period for short-time work benefits (Kurzarbeitergeld) to up to 24 months to mitigate economic challenges and protect jobs. This measure aims to support both employees and businesses, particularly in the manufacturing sector, which has seen a substantial rise in short-time work recently. The extension applies until December 31, 2025.

welt.de

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Jan 3, 16:09

\"German Unemployment Rises to 6 Percent Amidst Economic Slowdown\"\

\"Germany's unemployment rate rose to 6 percent in December 2024, reaching 2.807 million unemployed, due to a weak economy, decreased job openings (1.5 million in 2024, a 25-year low), and increased Kurzarbeit (320,000 recipients on average in 2024). The manufacturing sector lost 90,000 jobs in 2024...

\"German Unemployment Rises to 6 Percent Amidst Economic Slowdown\"\

\"Germany's unemployment rate rose to 6 percent in December 2024, reaching 2.807 million unemployed, due to a weak economy, decreased job openings (1.5 million in 2024, a 25-year low), and increased Kurzarbeit (320,000 recipients on average in 2024). The manufacturing sector lost 90,000 jobs in 2024...

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\"What is the current state of unemployment in Germany, and what are its immediate implications for the economy?\

\"In December 2024, German unemployment rose to 2.807 million, a 33,000 increase from November, pushing the unemployment rate to 6 percent. This increase, while partially seasonal, reflects a weak economy and decreased job demand, as the number of job openings fell to a 25-year low of 1.5 million in 2024.\

zeit.de

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Dec 18, 19:11

Germany Extends Short-Time Work Program to 24 Months

Germany extends its short-time work program to 24 months until the end of 2025 to help businesses in struggling industries, such as automotive, machinery, steel and chemicals, to avoid mass layoffs, saving an estimated 2.2 million jobs during the Covid-19 pandemic.

Germany Extends Short-Time Work Program to 24 Months

Germany extends its short-time work program to 24 months until the end of 2025 to help businesses in struggling industries, such as automotive, machinery, steel and chemicals, to avoid mass layoffs, saving an estimated 2.2 million jobs during the Covid-19 pandemic.

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What are the potential long-term economic consequences of this policy decision?

The German government's decision to extend short-time work is a response to a severe industrial crisis affecting multiple sectors. The measure, costing the government but cheaper than unemployment benefits, aims to retain skilled workers during a challenging economic climate. This strategy has proven effective in the past, saving 2.2 million jobs during the pandemic, as shown by the IMK institute.

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