Although the 100 German companies with the highest turnover generated slightly higher total sales of around €1.55 trillion in the first nine months of 2025—an increase of 0.6%—earnings before interest and taxes fell by 15% to €102 billion, according to an analysis by the auditing firm EY (Ernst & Young).
Car manufacturers have been particularly hard hit: the total sales of Volkswagen, BMW, and Mercedes-Benz fell by only 2%, but profits in day-to-day business slumped by 46% to around €17.8 billion. The slump in profits was even more drastic for chemical companies, at −71%. In addition, around 17,500 jobs were lost at the top 100 companies between January and September 2025, 114,000 total in all industrial sectors the past year.
There are no signs of a rapid improvement in the new year. According to the traditional association survey conducted by the German Economic Institute, 22 out of 46 trade associations expect job cuts in 2026. Only 9 associations expect more employees in their industry, while 15 anticipate stable employment. Among the industries that want to cut staff are labor-intensive sectors such as the metal, chemical, steel, and automotive industries, as well as mechanical engineering and the crafts.
