Germany’s IFO Economic Research Institute says the Corona 19 incident resulted in an 18 percent cut in German companies last month.
According to the institute, 58 percent of restaurants, 50 percent of hotels and 43 percent of travel agencies did not fire workers or extend contracts, while 39 percent of automakers cut jobs.
By region, companies in Baden-Wurttemberg and Bavaria cut jobs by 22% and 20%, respectively, and cut jobs in 16 federal states.
Germany’s IFO Institute said, 18% of companies cut jobs last month
Germany's IFO Economic Research Institute says the Corona 19 incident resulted in an 18 percent cut in German companies last month.
