No escape from job cuts for reform-shy Germans

Newswire

By Georgina Prodhan FRANKFURT, Sept 21 (Reuters) - Germans are braced for thousands of job cuts as companies warn they will have to step up the pace of restructuring after an inconclusive general election stymied their hopes for faster labour-market reforms. Within 24 hours of the polls closing on Sunday, Siemens -- one of the country's biggest employers -- had announced it would axe 2,400 jobs in Germany, with more to follow, adding to anxieties about record high unemployment. Korea's ...

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