Germany's economy has contracted for two consecutive years, leaving many working-age individuals feeling the impact. Despite hopes pinned on the new government, companies like Volkswagen, Audi, Bosch, Siemens, Thyssenkrupp, Deutsche Post, and Deutsche Bahn are announcing layoffs, indicating a grim job market. The German Economics Institute (IW) reports that 35% of businesses expect to cut jobs this year while only 24% plan to hire. While the economic plan from incoming Chancellor Friedrich Merz may offer some hope, the overall sentiment remains one of decline, with anticipated job losses outweighing new positions.
According to the German Economics Institute (IW), more than a third of businesses are planning to make job cuts in 2025. In a recent survey of employers, researchers found that 35 percent were considering staff reductions, compared to 24 percent who were planning to hire more staff.
Amid the relentless slew of bad news, a number of Germany's biggest firms have announced their plans for layoffs, including major car brands like Volkswagen and Audi, and tech heavyweights like Bosch and Siemens.
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