Germany partial lockdown pushes more companies into short-time work: Ifo
Reuters
Published Nov 30, 2020 01:26AM ET
BERLIN (Reuters) - The share of companies in Germany using short-time work schemes rose in November compared to the previous month, economic institute Ifo said on Monday, as a partial lockdown hit employment in tourism and restaurant industries.
Ifo said a survey of around 7,000 companies showed that the share of companies using the scheme rose to 28% in November from 24.8% in October.
Short-time work, also known as Kurzarbeit, allows employers to switch employees to working fewer hours or even none during an economic downturn. It aims to stop immediate shocks from leading into mass unemployment.
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Written By: Reuters
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