Massive Job Losses in NRW's Industry Deepen Economic Concerns

Thyssenkrupp, Ford, and other major companies announce significant layoffs as NRW's industrial sector faces a prolonged downturn.

North Rhine-Westphalia (NRW) has seen a sharp rise in unemployment, with 36,000 more people out of work this year, marking a 5.1% increase from 2023.
Thyssenkrupp plans to cut 5,000 jobs in its steel division and outsource 6,000 more, while Ford will eliminate 2,900 positions in Cologne within three years.
The industrial sector has been hit hardest, losing over 19,000 jobs in recent months, with further layoffs expected across major companies and their supply chains.
Economic forecasts for NRW predict minimal growth, with GDP expected to rise by only 0.2% in 2024 and 0.7% in 2025, reflecting a broader economic slowdown.
Unions and employers are urging the government to take action, including reducing bureaucracy, lowering energy costs, and increasing public investment in infrastructure to stabilize the region's economy.