Feintool, a Swiss automotive supplier, has revealed plans to shut down its plant in Sachsenheim, Germany, and move operations to Hungary.
The company cited “general conditions in Germany,” economic slowdown, and uncertainty surrounding energy policies and electromobility as key factors in the decision. The closure, expected to lay off 200 workers, will save Feintool approximately €16 million annually.
The move highlights broader struggles in Germany’s industrial sector, with major layoffs and plant closures becoming increasingly common as the country faces recession. Volkswagen’s recent announcement to shut down several plants and cut thousands of jobs further underscored the crisis. Chancellor Olaf Scholz has called for efforts to protect jobs, but the reality is that businesses are being forced to adapt to a tough economic environment.
In fact, Italy’s Fabio Panetta, a member of the European Central Bank board, labeled Germany as “the sick man of Europe,” reflecting growing concerns about the nation’s economic health. Meanwhile, Ryanair has also reduced flights from Germany, citing high taxes and poor airport operations, potentially moving some services to Hungary instead. CEO Michael O’Leary criticized Germany’s management as “idiotic.”
