The German metallurgical and electrical engineering industries could lose up to 300,000 jobs in the next two to three years. This is reported by Bild's Communicates magazine, citing the chapter of the German Union of Metallurgical and Electrical Engineering Employers Gesamtmetall Oliver Cander.

Since 2019, the German metallurgical and electrical engineering industry has already lost 350,000 jobs.

"Taking into account the inefficient use of production capacities, another 300,000 jobs in the metallurgical and electrical engineering industries are at risk in the next two to three years. In the German metallurgical industry, approximately 3.7 million people are currently employed. In the future, their number could be reduced to 3.4 million. The potential economic losses are estimated at 35 billion euros annually," said Cander.

According to him, the reasons for the crisis are high energy and wage costs, bureaucracy, and American tariffs.