German car industry to slash more jobs in 2020

Reuters | Published: December 04, 2019 17:40:03 | Updated: December 06, 2019 19:06:13

Germany’s VDA automobile association said on Wednesday that it excepted global car sales to fall by 5 per cent this year, the steepest drop since the world financial crisis a decade ago, adding that the crisis would force companies to cut more jobs in 2020.

 “Utilisation is going down, temporary work contracts are not being renewed, short-time employment with state aid is going up,” VDA President Bernhard Mattes said, adding that the number of permanent staff at car factories was likely to fall further.

 “For 2019, we already expect a drop (in employment) on the year, this trend will worsen in 2020,” Mattes said.

Share if you like