Mood of crisis in Saxony's metal and electrical industry: According to the employers' association Sachsenmetall, the sector is facing further job cuts. Since September 2023 - when there were almost 190,000 employees - around 5,700 jobs have already been lost, the association announced. In view of the current economic data, this trend threatens to continue in the coming months.
Sachsenmetall fears loss of up to 30,000 jobs
According to Sachsenmetall, incoming orders fell by 8 percent last year, adjusted for price, and turnover by around 5 percent. "Measured against the nationwide decline in production, Saxony alone is threatened with a further loss of up to 30,000 jobs." Capacity utilization is currently only at 76 percent. "This makes the current situation comparable to that during the financial and coronavirus crisis."
