Profits are going down for Daimler, Volkswagen and BMW. The German carmakers, who until recently were doing quite well, are now being hit by the European crisis. They want to maintain their permanent staff but the first ‘victims’ of the drop in sales could be agency workers. Experts say that about 60,000 temporary jobs are in the hot seat in the German auto industry. (Ref. 130300)
The crisis is catching up with German auto groups. Historical sales and profits in 2012, record bonuses given to employees (+€7,630 at BMW, +€7,200 at VW), a few months ago, German carmakers, notably driven by their sales in China and the US, seemed largely unaffected by the crisis in Europe. But it now seems that their luck has changed, the crisis is catching up. In the first 2013 quarter, German auto groups’ sales abroad dropped by 11%, down to about 1 million vehicles. At the same...
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