German companies, particularly in the industry and trade sectors, are planning job cuts, according to a survey by the economic institute Ifo. The Ifo labor market index, which indicates hiring or layoff plans, stood at 93.4 points in January, signaling tension in the labor market. There is weak interest in hiring in the services, tourism, and hospitality sectors, while the most layoffs are planned in industry and trade. The index is based on a questionnaire sent to over 9,000 German companies.
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