Metal and electrical industry threatened with further job cuts

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."

Saxon Metal President: Decline is shocking

"This decline is shocking. This is particularly true for Saxony, because it has long been a matter of getting down to the nitty-gritty, the structures, the substance. In many places, this threatens to destroy the hard work of the past decades," explained Sachsenmetall President Jörg Brückner. The current development is also an indictment of economic policy.

"Unlike during the coronavirus crisis, this time it was not an unforeseeable external shock that led to the crash," emphasized Brückner. Companies are still waiting for an internationally competitive energy price level, a reform of social security and a rollback of new regulations.