A logo hangs on the building of the Employment Agency. (picture alliance/dpa)
Close to half of all German companies operating outside of the country have been forced to shed jobs as a result of the coronavirus pandemic, a recently published survey suggested.
Forty-three percent of companies said they had cut staff since the onset of the crisis, according to the survey conducted by the German Chambers of Industry and Commerce (DIHK).
Many countries had not seen government measures to cushion the economic impact of the pandemic, such as state-supported furlough schemes, resulting in higher unemployment, the industry body said.
The latest available figures showed German companies operating abroad employed around 7.9 million people worldwide in 2018, the DIHK said.
The pandemic presents an enormous ongoing challenge for German companies abroad, with more than eight out of 10 businesses expecting profits to plummet.
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