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Merkel rules out state aid for retailer Arcandor

German Chancellor Angela Merkel on Saturday said she was against bailing out struggling retail giant Arcandor and accused the company’s management of making serious mistakes.

Published: 6 June 2009 10:23 CEST

Merkel rules out state aid for retailer Arcandor

Photo: DPA

In an interview with Bild am Sonntag, Merkel accused Arcandor of “huge mismanagement.”

“I can’t understand at all why some in the Social Democratic Party want to burden German taxpayers with a risk instead of tackling the causes,” the chancellor said.

Her comments come a day after reports that Arcandor had admitted it stopped rent payments during an emergency meeting in the Economy Ministry in Berlin with representatives from creditor banks, shareholders and property owners.

The retailer’s struggle has divided German lawmakers on whether to help another national corporate icon after bailing out General Motors’ German unit Opel last month.

German Foreign Minister and Vice-Chancellor Frank-Walter Steinmeier of the Social Democratic Party said on Friday “an Arcandor insolvency would be the worst solution.”

Arcandor has applied for €650 million ($930 million) in loan guarantees and a credit line of €200 million from Berlin out of a government fund to help companies hit by Germany’s worst postwar slump.

The company owns a 52-percent stake in Europe’s second biggest tourism group Thomas Cook, the Karstadt chain of department stores and iconic shops such as the KaDeWe in what used to be the commercial heart of West Berlin. The money-losing Karstadt chain, founded in the 19th century, employs about 25,000 people.

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Which Bavaria-based companies regularly hire English speakers?

Munich ranks third in German cities with the highest total GDP, behind Berlin and Hamburg, but in terms of GDP per capita, it’s higher than both of them.

It also consistently ranks high, often highest, in terms of average household income.

As of 2023, nine of the 40 companies listed on DAX, Germany’s stock index, were based in Bavaria. Seven of those are based specifically in Munich.

While Frankfurt is commonly known to be Germany’s business capital, Munich can claim the title of Germany’s insurance capital, which is saying something, as Germany is home to some of the largest insurance firms in the world, like Allianz.

Beyond the state’s capital city, a number of international companies are based elsewhere in Bavaria, particularly in the Franken region, near Nuremberg.

Which companies actively hire English speakers?

Bavaria, and Munich in particular, is home to a number of companies at the forefront of international business. But the state is known for its traditional, sometimes conservative, culture, which affects its business culture as well.

Whereas companies embracing English as their primary business language are easy to find in Berlin, the practice is less common in the south. That said, there are some notable exceptions.

Sportswear giants, Adidas and Puma, both have their headquarters near Nuremberg in Herzogenaurach, and regularly recruit English speaking international talent.

“As an international company, our teams reflect the rich diversity of our consumers and communities,” Jon Greenhalgh, Senior Manager Media Relations for Adidas told The Local. “Fostering a culture of inclusion where we value and leverage differences, ensures that we can authentically engage with our employees and truly connect with our consumers.”

He added that around 40 per cent of Adidas’ Germany-based employees are foreign nationals, from over 100 different countries.

Siemens and BMW rank among Bavaria’s top employers, and are also known to hire their fair share of foreigners.

“In Germany, we recently had around 2,000 open positions,” Konstanze Somborn told The Local on behalf of Siemens AG.

He added that Siemens operates in 190 countries. “That is why we value international teams very much…English as a common language is very usual.”

READ ALSO: ‘Which German companies want to hire foreigners?’

Similarly, BMW hires workers from a variety of backgrounds.

“Every year, we hire lots of internationals and welcome them to the BMW Group,” Dr. Hans-Peter Ketterl, a press spokesman for BMW Group told The Local.

But not all of these positions are available to non-German speakers.

Ketterl added that BMW’s working language is German in the country, even though, “English is an indispensable entry requirement as the second corporate language in many areas of the company.”

Check job boards and follow best practices

If it’s your first time applying for jobs in Germany, make sure to change your resume to the German format, even for English positions.

While Germany is home to its own job boards, like Xing, LinkedIn is probably the best place to start. In addition to searching for positions based in your preferred location, you can check relevant groups, like Munich Startups, to broaden your horizons.

The English Jobs in Germany website is also a good resource to start with.

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