470,000 Companies are reporting short-time work due to the corona crisis

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In the corona pandemic, almost half a million companies reported short-time work. The crisis is likely to have massive effects – the Federal Employment Agency expects up to 200,000 additional unemployed in April.

In view of the massive restrictions due to the corona crisis, 470,000 companies in Germany have now reported short-time work. In addition to the manufacturing industry, this also includes many companies from the hospitality and retail sectors, said Federal Labor Minister Hubertus Heil in Berlin. How many employees are affected in total cannot yet be reliably said. However, it can be assumed that there will be significantly more than at the peak of the economic and financial crisis in 2009. At that time, around 1.4 million people were affected.

BA: Short-time work allowance without limit

Heil emphasized that affected employees could keep their jobs with the short-time work allowance and would have the chance to get the German economy going again after the crisis. The Federal Employment Agency (BA) declared that it would finance as much short-time work as necessary to cope with the Corona crisis and to save jobs. There is no financial limit, said CEO Detlef Scheele. 100,000 short-time workers cost around 79 million euros per month with a 50 percent failure.