German companies gradually easing off furloughs: Ifo
Global Economy
30 July, 2020, 12:30 pm
Last modified: 30 July, 2020, 12:32 pm
In July, 42% of companies surveyed were still taking advantage of the Kurzarbeit furlough scheme
FILE PHOTO: Aerial view of a container terminal in the port of Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer
The number of German companies that have their workers on shortened working hours is gradually easing, particularly in the construction, services and retail sectors, a survey by the German economic institute Ifo showed on Thursday.
In July, 42% of companies surveyed were still taking advantage of the Kurzarbeit furlough scheme, down from 46% in June and 53% in May.
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