This is how companies are preparing for the impending recession

Dusseldorf German companies are preparing vigorously for the impending recession next year: they are cutting costs, cutting back investments and building up new liquidity cushions. This is shown by research at companies and discussions with experienced restructuring experts. “The situation is very tense overall and sometimes dramatic in the manufacturing industry,” says Andreas Rüter, Germany head of the management consultancy Alix Partners.

Numerous companies have already announced new savings programs in the three-digit million euro range, including, for example, the chemical companies BASF and Evonik. The efforts are particularly great in the energy-intensive industries, which are particularly dependent on expensive gas and electricity.

But companies from retail and other sectors are also taking countermeasures. For example, the sporting goods manufacturer Adidas, the battery specialist Varta and the industrial service provider Bilfinger want to massively reduce their costs.