Germany CRISIS: Merkel’s economy CRUMBLES as more businesses announce job cuts

GERMANY is in the midst of another shock economical crisis after a major company in Munich scrapped hundreds of jobs as the EU's top financial provider battles relentlessly to save itself from a crippling recession.

Machine builder KraussMaffei has announced they intend to slash 510 jobs across the entire European business, with 430 jobs are to be cut in Germany alone. There are also 80 further job cuts abroad. The company cites Brexit as one of the reasons for the job cuts as well as the US-China trade war.

Of the 430 job cuts, plans call for 334 positions to be reduced by the end of 2020, 76 in 2021 and 20 in 2022. KraussMaffei management will clarify the specific people involved with the cuts...
source: Express

2020-02-21 23:11
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