German auto sector sheds 42000 jobs annually
Reports indicate that the German automotive industry lost 42,300 jobs in 2026, marking the lowest level since 2005, due to an accelerated wave of layoffs that significantly impacted the sector. As a result, the number of employees in this industry decreased by 5.8%, with approximately 691,500 workers currently employed. The Automotive Industry Association forecasts potential losses of up to 225,000 jobs by 2035. This decline is attributed to cost-cutting programs and companies being forced to reduce employment amidst economic challenges.
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