Press Statement Jörg Hofmann on job cuts at Siemens, Thyssenkrupp, PSA/Opel, and General Electric

Jörg Hofmann: “Following Siemens, ThyssenKrupp, and PSA/Opel, General Electric is now the fourth major corporation to announce massive job cuts in Germany within a short period of time, despite posting billions in profits. To garner short-term applause from the stock market, the livelihoods of thousands of workers are being recklessly jeopardized. This amounts to a unilateral abandonment of the highly successful German model, which is based on a social compromise. We will not accept this.”