Impending Job Losses in Metal and Electrical Industries

The metal and electrical industries are poised to face significant challenges, with expected job losses of 250,000 to 300,000 over the next five years. Despite ongoing labor shortages, the industry must adapt by increasing work output.

Stefan Wolf, President of Gesamtmetall, highlights the urgent need for structural reforms akin to the Agenda 2010, advocating for a new 'Agenda 2040'. The sector is grappling with high energy prices, taxes, and bureaucratic burdens, contributing to a structural crisis.

Current employment stands at around 4 million, yet the upcoming retirement of baby boomers exacerbates the labor shortage. Wolf stresses the necessity of flexible working hours to mitigate these issues and aims to ensure that job reductions are handled as socially responsibly as possible.

As tariff negotiations proceed, potential industrial action looms on the horizon.