I'm German, so I might be biased but I think Kurzarbeit (for our non-german speakers, it is pronounced: koorts-arbite [0]) (short-time working) is as close as possible to an economic wonder weapon during a recession:
People are still paid, companies do not have the full burden of wages to pay and especially do not have to go through hiring and training new employees after the episode when they want to ramp up again. It's an awesome tool to deal with a temporary situation and particularly aimed at making recovery from the situation easier (by riding it out instead of first succumbing to it and then having to get back on the feet).
People are still paid, companies do not have the full burden of wages to pay and especially do not have to go through hiring and training new employees after the episode when they want to ramp up again. It's an awesome tool to deal with a temporary situation and particularly aimed at making recovery from the situation easier (by riding it out instead of first succumbing to it and then having to get back on the feet).
[0] Hear it using the speaker symbol to the right of the german word at https://www.dict.cc/?s=kurzarbeit&=DEEN
PS: I wanted to point others to it a few days ago but unfortunately it did not catch on: https://news.ycombinator.com/item?id=22649108