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German companies gradually easing off furloughs: Ifo

imageEconomy7 hours ago (Jul 30, 2020 01:25AM ET)

(C) Reuters.

BERLIN (Reuters) – The number of German companies that have their workers on shortened working hours is gradually easing, particularly in the construction, services and retail sectors, a survey by the German economic institute Ifo showed on Thursday.

In July, 42% of companies surveyed were still taking advantage of the Kurzarbeit furlough scheme, down from 46% in June and 53% in May.

German companies gradually easing off furloughs: Ifo

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