Automotive industry braces for potential layoffs, according to industry association.

Financial Sector - Automotive industry braces for potential layoffs, according to industry association.

The story revolves around technological changes, increased productivity, and drops in sales and production numbers. These factors led the Prognos study to view the lower demand for labor in a positive light due to the lack of skilled workers and available labor. By 2040, Bavaria's workforce is estimated to shrink from 6.6 million to 6.2 million workers.

The researchers foresee a growing need for labor and skilled workers in the fields of electronics, mechatronics, and IT. Meanwhile, the demand for labor in the automotive industry and metal processing is predicted to decrease. "Employees in diminishing demand professions are about to retire and won't be replaced," explained managing director of vbw, Bertram Brossardt. In turn, workers must acquire the necessary skills for new job requirements.

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1. The Association of the Bavarian Economy, expressing concerns about the automotive industry, has highlighted potential job cuts due to the Prognos study's predictions.
2. In light of the predicted shrinkage of Bavaria's workforce by 400,000 workers by 2040, the car industry in Bavaria could face significant job cuts.
3. Considering the anticipated skills shortage in electronics, mechatronics, and IT, the German car industry and metal processing may experience job cuts due to the lack of qualified workers.
4. According to Bertram Brossardt, managing director of the vbw, a high number of employees in diminishing demand professions in Bavaria are set to retire, potentially leading to job cuts in the car industry.
5. Germany's automotive and car industry associations are under pressure to adapt to technological changes and increasing productivity, which could result in job cuts as traditional roles become redundant.
6. To mitigate potential job cuts in the car industry, Bavarian education institutions and businesses should collaborate to provide necessary skills training for workers to meet the demands of the evolving automotive sector.

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