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German car suppliers could lose thousands of jobs over hard Brexit - study
Thrugelmir
Posts: 89,546 Forumite
In the news today.
https://uk.reuters.com/article/uk-germany-autos-britain/german-car-suppliers-could-lose-thousands-of-jobs-over-hard-brexit-study-idUKKBN1F0138
A so-called “hard Brexit” involving tariffs and a lasting devaluation of the pound could cause thousands of job losses at German automotive suppliers, a study by accounting firm Deloitte showed.
An arrangement where Britain gives up full access to the single market and customs union could threaten as many as 14,000 jobs at automotive suppliers in Germany and shrink their sales by 3.8 billion euros (£3.36 billion), the study published on Thursday found. Britain will leave the European Union in 2019.
Germany is the largest exporter of car parts to the UK, with companies such as Continental (CONG.DE) and Robert Bosch providing nearly a fifth of all components used in UK-based car production.
https://uk.reuters.com/article/uk-germany-autos-britain/german-car-suppliers-could-lose-thousands-of-jobs-over-hard-brexit-study-idUKKBN1F0138
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