Executives: Highly qualified, successful, looking for work – Four people affected report
In the crisis, people whose careers have so far gone steeply upwards are also no longer finding a job. Four people affected tell us what challenges this presents them with.
In Germany, it was long believed that if a person was diligent, motivated, and qualified, they would find work. However, the job market has changed. With the current economic downturn, many companies are not only hiring fewer people, but also laying off employees. Around 15,000 jobs are lost every month solely in the industry, according to the Institute for Employment Research (IAB).
As a result, more jobseekers are finding fewer available positions. A troubling development is that this is now affecting highly qualified academics, managers, and executives. In just one year, the number of unemployed executives has surged by 14 percent across all industries, as shown by figures from the Federal Statistical Office. The proportion of academics remaining unemployed for over a year has also risen recently.
To gather firsthand accounts, the Handelsblatt magazine launched an appeal on the LinkedIn job platform, which received over 100 responses from affected individuals. These professionals are highly qualified, often led teams, and some held C-level positions. Most were terminated or offered voluntary dismissal contracts. Some even resigned on their own accord, hoping to find new employment quickly. The majority of these jobseekers are between 50 and 60 years old.
Four such individuals share their experiences with prolonged unemployment and the challenges it presents.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
