German firms plan more job cuts due to geopolitical worries, says ifo

Companies in Germany plan to cut more jobs due to global crises, leading to a decline in employment. Ifo's employment barometer fell to its lowest level in almost six years, with more jobs being cut than created. Geopolitical uncertainty is affecting companies' personnel planning, particularly due to the unresolved conflict in the Middle East, which is disrupting supply chains and causing energy prices to rise.