Due to the Russian war of aggression in Ukraine, the costs for companies are also increasing in this country. The economic situation could get even worse.
The number of companies in Germany that had to reduce staff or increase prices due to the consequences of the war in Ukraine has increased.
The number of companies with staff reductions increased by three percent from May to June, according to the Institute for Labor Market and Occupational Research (IAB) in Nuremberg. Five percent more companies made price adjustments in the same period.
Two areas particularly affected
The manufacturing industry and large companies are particularly hard hit. This also applies to the reduction in production. Decreases in new hires suggest that companies are assuming the economic situation will worsen, said IAB boss Bernd Fitzenberger.
The results come from a regular survey of 2000 companies in Germany entitled “Companies in the Covid 19 crisis”. The survey, originally introduced to research the situation in the corona pandemic, was supplemented with questions on this topic after the start of the war in Ukraine.
Information IAB
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
