European companies continue layoffs due to stagnant economic outlook Related news
Coronavirus
LONDON/BERLIN European companies continue layoffs in the second half of 2024 due to a stagnant economic outlook. The region seeks to reduce labor costs amid the effect of the Russia-Ukraine War on economies, structural problems in Germany and weakened consumer demand because of a tight monetary policy. Inflation is higher than pre-coronavirus pandemic levels in Europe and it has consequently reduced the purchasing power of households, and as a result, the increase in interest rates to combat
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