Mass layoffs are expected in Germany. Eighty-eight companies plan to cut 147,522 jobs.

Axar.az informs that this was reported by “Bild.”

The layoffs will affect all sectors of the economy, from large automotive parts suppliers to logistics and high-tech companies, airlines, and small machinery manufacturing firms. The giant railway company Deutsche Bahn alone plans to cut 30,000 jobs, while ZF, an automotive parts manufacturer, intends to cut 14,000 positions.

The reason is the current economic policy of the German federal government, which many experts consider flawed and pessimistic about the future.