reported from the source

Quick summary: The Gesamtmetall employers‘ association anticipates further job losses in the metal and electrical sectors due to high energy and labor costs.

The Gesamtmetall employers‘ association predicts that tens of thousands of jobs will be cut in the metal and electrical industries in the coming year, attributing this to high production costs for companies in Germany. Oliver Zander, the association’s chief executive, stated that the current underutilization in production cannot be sustained long-term, with nearly 10,000 jobs being lost each month. He emphasized that taxes, energy costs, and labor costs in Germany are so high that many companies find production here no longer viable. Zander noted that employment in the sector has been declining for 21 consecutive months and that this trend is unlikely to change in the short term. He also called on the German government to take stronger action against EU bureaucracy, warning of a record number of binding legal acts and amendments from the EU Commission this year. Zander urged Chancellor Friedrich Merz to initiate a course correction at the upcoming EU summit in February.

Source: www.tagesschau.de