Kühne expects job cuts due to Corona crisis

The entrepreneur Klaus-Michael Kühne, a member of the board of directors of the logistics service provider Kühne and Nagel, expects job cuts of 20 to 25 percent at his group, especially in the warehouses. 83,000 people currently work for the group. Kuehne spoke of “re-dimensioning” and expected the group’s profits to be significantly lower than in 2019.

Kuehne is counting on government aid for the hotel industry: “This is the sector most affected by the crisis.” The dimensions of the state’s billions in aid for the economy in times of crisis worried him, as the SPD spoke of a “bazooka”. The SPD is “known more for making debts than for good business”, he deplored.

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