Defense Companies Are Luring Germany's Struggling Autoworkers [BNN Bloomberg (Canada)]
RHEINMETALL AG UNSP/ADR (RNMBY)
NASDAQ:AMEX Investor Relations:
rheinmetall.com/en/rheinmetall_ag/corporate_social_responsibility/stakeholder_2/investoren_2/index.php
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Source: BNN Bloomberg
Luckily, many are eyeing a sector that can't hire fast enough: defense. Since Russia's invasion of Ukraine two years ago, arms manufacturers have experienced something of a reversal of fortune. Once associated with the likes of “sin industries” such as tobacco and gambling, these companies are now seen as attractive potential employers – and particularly if they're helping fight the war in Ukraine. Read More: Continental to Cut 7,150 Jobs in Savings Push at Auto Unit (1) Hensoldt, which makes air defense sensors crucial to intercepting Russian missiles in Ukraine, has seen an influx of new employees, mainly engineers, coming from carmakers. “We benefit from the problems in other industries when building up our workforce,” said former CEO Thomas Mueller, who was succeeded by Oliver Doerre in April. The company is planning to hire 700 new employees across divisions this year. Part of the push to bring in more workers has to do with the massive challenges facing Ukraine. For ever
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