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11 May 2020
Germany’s IFO sees widespread layoffs in coronavirus crisis
The findings of the latest survey conducted by Germany’s influential IFO institute showed on Monday that a majority of the sectors cut jobs last month, in the face of the coronavirus pandemic induced lockdown and stall in the business activity.
Key points
39% of German companies in the auto industry decided to cut jobs in April.
50% of companies in hotels, 58% in restaurants business, 43% in travel agencies decided to cut jobs last month.