Nearly Half A Million Companies In Germany File For State Funds To Pay Workers

A woman walks at a closed restaurant in an empty terminal at the airport in Munich, Germany. Businesses across the country have shut or cut back hours due to the new coronavirus.Christof Stache/AFP via Getty Images

A woman walks at a closed restaurant in an empty terminal at the airport in Munich, Germany. Businesses across the country have shut or cut back hours due to the new coronavirus.In Germany, nearly half a million companies have applied for government funds to support employees with reduced work hours, as the country with the largest economy in Europe pushes to contain the new coronavirus.

Heavy restrictions on public life, an export slump due to nations' lockdowns and broken supply chains throughout industry have meant millions of Germany's workers are eligible for public financial aid. Known as, the government's compensation program allows firms to reduce employees' hours while the state provides much of the lost income.that the applications suggest 9 million workers — about a fifth of Germany's workforce — could be affected by the work hour cuts.

The benefits could also be possible for around 1.3 million municipal employees this year, according to Germany's Association of Local Employers.

Coronavirus At least Germany has a government, in America people have started questioning where is our government who can take care of us, where can I find the government? Wishing whole world health, harmony, wisdom, compassion

Why doesn't NPR report what THE GERMAN EXPERTS are saying?

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coronavirus updates: USNS Comfort's arrival draws crowds, nearly half of all companies considering layoffs“If we abandon social distancing too quickly, in fact the risks are greater in the long run,” Goldman's Sharmin Mossavar-Rahmani said earlier today about the impact of the coronavirus crisis. “There is a light at the end of the tunnel.” Yes it is a light....just not the red light Roxanne used to...😂 Stop the bullshit propaganda Amid the destruction of the Constitution and end of freedom.
Source: CNBC - 🏆 12. / 72 Read more »

Stock market live Monday: Dow rises nearly 700, J&J vaccine hope, oil 18-year low“We are going to have bankruptcies, and bankruptcies unfortunately destroy the capital structure completely,” Allianz’s Mohamed El-Erian said this morning. “It is a very selective game right now, rather than calling the all clear and going in for indices.” Joe should probably consider a shirt neck size a little bigger. He looks like a tick about to pop. elerianm thank you for your information. Stay safe👍🏻 Cross your fingers that the corporate bailouts and small business loans have enough juice to June stevenmnuchin1
Source: CNBC - 🏆 12. / 72 Read more »