Germany is grappling with its worst wave of bankruptcies since the 2008 financial crisis, as 364 major companies declared bankruptcy in 2024, marking a dramatic 30% increase from the previous year.
The economic downturn has also led to a hiring freeze across many industries, with fewer German companies recruiting new employees. Meanwhile, the number of firms implementing job cuts is rising steadily, affecting nearly every sector.
This trend has raised concerns about the resilience of Germany’s economy amid growing challenges in global markets and domestic industries.
