Economic Slowdown Hits Trumpf! 1,000 Jobs to be Cut!

Jobs at Risk Again Economic Slowdown Hits Trumpf! 1,000 Jobs to be Cut!

2025-05-14 Source: dpa 1 min Reading Time

More and more companies are being hit! Due to the economic downturn, machine manufacturer Trumpf is now also planning to cut around 1,000 jobs over the next few months, as dpa has learned ...

Trumpf boss Nicola Leibinger-Kammüller can no longer avoid cutting jobs due to customers' reluctance to invest. As was announced today, this will affect around 1,000 employees.(Image: Trump) — Trumpf boss Nicola Leibinger-Kammüller can no longer avoid cutting jobs due to customers' reluctance to invest. As was announced today, this will affect around 1,000 employees.
(Image: Trump)

According to Trumpf, around 430 of a total of 6,200 jobs are to be cut at the company's headquarters in Germany. The Trumpf decision-makers explain: "We too can no longer escape the global economic downturn that has persisted for almost two years!" Due to the associated decline in orders, the company is now forced to adjust its structure. There is simply no way around cutting jobs in the process. However, the elimination of jobs at Trumpf should also be as socially responsible as possible. Discussions with the works council are ongoing, according to the statement. In the 2023/24 financial year (from the beginning of July to the end of June), the number of employees at Trumpf increased by over 650. At the end of June 2024, the family-owned company employed around 19,000 people - a good 9,500 of them in Germany.

Investment Fear Plagues Trump in the End

Trumpf manufactures machine tools for sheet metal processing and is also well known for its laser systems. However, the medium-sized company has been struggling with the weak economy for some time. According to Trumpf CEO Nicola Leibinger-Kammüller, many customers have recently been reluctant to invest. As a result, the balance sheet for the financial year mentioned above was worse than expected. And Trumpf had already launched a cost-cutting program at that time. Among other things, this affected business travel and consulting services. For the current year, the management is targeting a volume of 250 million euros (approx. 273 million USD) in cuts. Since last September, hundreds of employees in Germany have also had to accept salary cuts because their working hours have been reduced.

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