This estimate shows that the situation will further deteriorate. Orders in the fourth quarter of last year were down 54% year-on-year, and the most affected were standard machine tools for the automotive industry. The number of employed people in the industry by the end of the year has decreased from 73,400 in October 2008 to approximately 67,000. The reduction targets are mainly temporary workers, but try to retain the technical staff. At present, the company believes that it will not get out of the woods soon, but hopes that the situation will improve at the end of the year.
German machine tool industry production will shrink by 15% this year
According to the German "Business Daily" reported on February 27th, German machine tool manufacturers are worried that the situation in 2009 is worse than the current situation. The German machine tool manufacturer association (VDW) chairman Welcker estimates that the industry will produce at least Shrinking by 15%.