Festo to cut about 1300 jobs in Germany

Kiswahili

Industrial equipment maker Festo plans to cut around 1300 jobs in Germany. Reasons include market changes, competition from Asia and geopolitical crises. The company aims to save 200 million euros per year worldwide.

Festo from Esslingen announced it would streamline structures in Germany to implement a global transformation program. All production sites are to be preserved, chief executive Thomas Böck stressed.

IG Metall sharply criticized the move. Official Max Czipf said the extent had caught everyone cold and would harm the industrial location.

Jobs will also be cut abroad. The company and works council are now discussing socially acceptable solutions.

Makala yanayohusiana

Somber scene of Otto employees outside Hamburg headquarters holding boxes amid job cuts announcement.
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Otto cuts nearly 460 jobs in Hamburg

Imeripotiwa na AI Picha iliyoundwa na AI

The online retailer Otto plans to cut nearly 460 full-time positions, mainly at its Hamburg site. The measures aim to simplify structures and reduce costs. The company emphasizes implementing the changes fairly and in a socially compatible way.

Biontech to close nearly all production sites in Germany

German biotech firm Biontech plans to cut up to 1860 jobs in Germany. It will close multiple production sites and end Covid vaccine production there this year. Only pure office locations will remain.

German companies ramp up staff layoffs

Imeripotiwa na AI

The Ifo Institute's employment barometer fell to 91.3 points in April, the lowest since December last year. Companies plan more layoffs than hires, especially in industry and trade. Ifo's Klaus Wohlrabe warns of ongoing pressure on the job market.

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Finance Minister Klingbeil announces billion-euro savings measures

German Finance Minister Lars Klingbeil (SPD) detailed specific savings targets for the 2027 federal budget at a press conference in Berlin. The measures aim to close a 111 billion euro financing gap. The largest cuts target pensions at four billion euros.

Merz calls for deregulation at industry summit in Antwerp

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German Chancellor Friedrich Merz called for a genuine deregulation mindset in the EU at the industry summit in Antwerp. He opposed French President Emmanuel Macron's plans to favor European products and advocated for a 'Made with Europe' approach. The event served as a prelude to an EU competitiveness summit.

SVT cuts 141 jobs and axes popular programs

SVT is forced to save money after the government denied compensation, cutting 141 jobs and several popular programs. CEO Anne Lagercrantz expresses disappointment over the lack of government response. The 355 million kronor savings package affects sports and drama production among others.

Merz declares fuel supply secure amid energy crisis

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Chancellor Friedrich Merz declared the supply of diesel, petrol, and kerosene secure at the Hannover Messe opening, despite the energy crisis triggered by the Iran war. He announced a forthcoming national security council meeting. Economy Minister Katherina Reiche is inviting industry representatives for talks.

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