Study: One in Four in the German Financial Sector Fears Losing Their Job

This seems odd: On one hand, companies lament the ongoing shortage of skilled workers, while on the other hand, over a quarter of employees in the German financial and real estate sectors fear for their jobs. This is shown by data from a study conducted by personnel service provider Manpower, which Bloomberg has obtained.

According to the study, 29% of employees in the sector in Germany said it is moderately to very likely that they will lose their job in the next six months.

Across all industries in Germany, fear of job loss is even higher: 33% of respondents stated that they fear losing their job.

The situation is different in other countries
Could this possibly be a problem related to the proverbial “German Angst,” the tendency to give negative information more weight? In fact, the situation looks different in other countries, although in some cases, job anxiety in the financial sector is even higher than in Germany.

In the United States, 30% of employees believed they could soon lose their jobs, while in the United Kingdom the figure was 34%. And in Switzerland, which recently saw one of the largest bank takeovers in years, the number stood at 53%. Perhaps the fear is easier to bear in Anglo-Saxon countries and Switzerland, as layoffs tend to happen more quickly there — but so do new hires.

Employees in the financial and real estate sectors in Japan and Italy are more optimistic than in Germany. There, only 27% and 24% of respondents respectively believe they might lose their jobs in the next six months.

The reasons: AI and companies’ push for efficiency
The study also addresses the causes of job anxiety. In addition to the rise of artificial intelligence, mergers, branch closures, and increasing automation in the financial sector are leading to a reduced need for staff in certain areas.

Germany’s Federal Statistical Office points out that the number of credit institutions has been declining for years — a consequence of ongoing consolidation, particularly among banks and savings banks. At the end of 2023, there were only 1,403 credit institutions in Germany, a significant drop compared to earlier times.

The lower number of institutions is also reflected in staffing figures: since the year 2000, the number of employees at credit institutions in Germany has fallen by more than 200,000, down to around 550,000. “However, there are signs that the decline in staffing seen over the past decades is coming to a halt,” writes Manpower. And another reassuring point: not every segment is equally affected by the staff cuts. Professionals are still in demand in finance and accounting, as well as in controlling and sales. Increased automation is also ensuring that IT professionals need not worry about their jobs.

The data collected by Manpower on the financial and real estate sectors is part of the Global Talent Barometer 2025, compiled by the personnel service provider. Over 13,000 employees from various industries in 19 countries were surveyed. The data was collected between March 14 and April 11.

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