• Germany edition
 
DAX companies cut 116,000 jobs in 2009
Photo: DPA

DAX companies cut 116,000 jobs in 2009

Published: 28 Dec 2009 11:20 GMT+01:00
Updated: 28 Dec 2009 11:20 GMT+01:00

The survey, conducted by news magazine Der Spiegel, found that the 30 DAX companies cut 116,385 jobs this year, 45,354 of them in Germany alone. The news comes on the same day that the DAX reported a year-high of 6,000 points.

Most jobs were cut by the insurance giant Allianz, which employs 21,000 fewer people in Germany than it did a year ago - a 30 percent cut in its domestic workforce. Though most of these jobs were lost by the sale of Dresdner Bank, the majority of Dresdner Bank employees were kept on by the buyer, Commerzbank.

Several other German corporations numbered their domestic job cuts in the thousands during the year: car manufacturer Daimler lost 4,200, retailer Metro lost 3,800, steel corporation ThyssenKrupp lost 3,200, and technology giant Siemens lost 3,000.

But the figures are more dramatic on a global level: Siemens cut 20,000 worldwide, the national postal service Deutsche Post cut 18,000 and Daimler dropped 16,000.

But these figures were balanced a little by the job creations in other German companies. Apart from Commerzbank, which profited from the takeover of Dresdner Bank, the telecommunications market leader Deutsche Telekom created 32,000 jobs worldwide, and the airline Lufthansa created a further 11,000.

But all in all the number of job losses outstrips the gains among the DAX companies, by some 18,000 in Germany alone. Internationally, the balance comes to a negative of 20,000.

DAX company jobs in Germany have been slashed by 1.2 percent, while the number of jobs has only dropped by 0.6 percent overall worldwide. According to Der Spiegel, the figures show that German corporations are moving more and more of their jobs abroad.

The Local (news@thelocal.de)

Don't miss...X
Left Right

Your comments about this article

10:23 January 13, 2010 by Weena_O
The broader economy have been very depressed recently because of the financial downturn in every part of the world. The US likes to think it's some sort of special victim of any given financial crisis, but every recession becomes a global recession very quickly. This current one caused world stock markets to take a dive, and going into 2009, it looked like everybody could use payday loans at least. However, 2009 saw stock markets post some incredible gains. Asian markets did better than US and European markets, but over a longer period of time, stocks are still down. That said, now is the perfect time for investors to rebuild what they'd lost.
Today's headlines
Most Germans fear Russian action: Poll
Photo: DPA

Most Germans fear Russian action: Poll

Ahead of the Nato summit in Wales starting on Thursday, a new poll has shown that while most Germans fear military escaltion between Russia and the Ukraine, only half want to see the alliance intervene. READ  

Farmers 'not to get full sanction compensation'
Photo: DPA

Farmers 'not to get full sanction compensation'

Germany's agriculture minister warned on Tuesday that European farmers hit by a Russian import ban would not receive full compensation, ahead of talks with his French and Polish counterparts. READ  

Denmark, Germany launch joint patrols
A Danish officer (l) with a German colleague on patrol in a Danish squad car near Pattburg. Photo: DPA

Denmark, Germany launch joint patrols

Police officers from both countries will in the future mount joint patrols in frontier areas, both in uniform and in plain clothes, the sides agreed on Tuesday. READ  

Glass memorial honours Nazi disabled victims
Floral tributes were laid on Tuesday at the new Holocaust memorial in Berlin. Photo: DPA

Glass memorial honours Nazi disabled victims

A 24-metre blue glass wall in Berlin has been unveiled to commemorate the systematic murder of up to 300,000 mentally ill and disabled people under Adolf Hitler. READ  

Germany to help with Mediterranean refugees
Migrants aboard an Italian navy patrol vessel in April 2014. Photo: DPA

Germany to help with Mediterranean refugees

Interior Minister Thomas de Maizière on Tuesday pledged support for his Italian colleague in the struggle to manage refugees trying to reach the European Union via its southern coast. READ  

Ice bucket challenge raises €500,000 in a week
Elephant Nelly takes part in the ice bucket challenge in a Lower Saxony safari park. Photo: DPA

Ice bucket challenge raises €500,000 in a week

The coffers of the German Society for Muscular Disease (DGM) are overflowing with donations thanks to the viral craze for videos of donors dousing themselves with ice-cold water. READ  

Russian-German school opens in teeth of conflict
The GRIAT will open in the Russian city of Kazan. Photo: Shutterstock

Russian-German school opens in teeth of conflict

The German Academic Exchange Service (DAAD) is pressing ahead with its German-Russian Institute of Advanced Technologies (GRIAT) against a backdrop of international tensions over Ukraine. READ  

Schweinsteiger is new Germany captain: Löw
Photo: DPA

Schweinsteiger is new Germany captain: Löw

Bastian Schweinsteiger will replace fellow Bayern Munich player Philipp Lahm as captain of the German national football team, head trainer Joachim Löw said on Tuesday. READ  

Munich minister resigns in 'model car scandal'
Christine Haderthauer at her resignation press conference in Munich on Monday. Photo: DPA

Munich minister resigns in 'model car scandal'

Christine Haderthauer, head of the Bavarian state chancery, resigned “with immediate effect” on Monday evening over the so-called “model car scandal” in which her company sold scale models built by a man convicted of three sexual murders. READ  

Russia 'severed' from Europe: President Gauck
President Gauck stands shoulder to shoulder with President Komorowski of Poland in Gdansk on Monday. Photo: DPA

Russia 'severed' from Europe: President Gauck

Russia has "effectively severed its partnership" with Europe and wants to establish a new order, German President Joachim Gauck said on Monday. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Sponsored Article
Bilingual education from nursery to graduation at Phorms
Photo: Shutterstock
Gallery
Ten of the oddest things found by German border control
Photo: Gerkan, Marg and Partners/Tegel Projekt GmbH/J. Mayer
Berlin
How will Berlin look in five years' time?
Photo: DPA
Culture
Sprechen Sie Deutsch? 10 reasons why you should
Photo: DPA
Gallery
The best of Berlin's mayor Klaus Wowereit in 14 pictures
Photo: DPA
Politics
Germany sends burgers and sausages to Kurds
Photo: Matthias Kock
National
Tribes, ties and a movie: A German's Afghan life
Photo: DPA
Gallery
10 things to do before summer in Germany is really over
Photo: DPA
Gallery
The mysteries of Berlin's abandoned theme park
Photo: Europeana.de 1914 - 1918
Gallery
A German soldier's life behind WWI lines
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,439
jobs available
Toytown Germany
Germany's English-speaking crowd