The multinational investment bank and financial services company, Goldman Sachs, is cutting 6.5% of its jobs worldwide. It is difficult to know at this stage how badly the German subsidiaries but overall, there should be job cuts of approximately 3,200 jobs. Such numbers of layoffs can be compared to those following the collapse of [...]
German law defines applicable lifetime gifts under § 7 ErbStG, and generally, they include: A financial donation without consideration, Compensation for a renunciation of inheritance or a waiver of the compulsory portion, Establishing a foundation with assets through a foundation transaction The transfer of assets and properties, The waiver of loans, Such gifts can [...]
Nowadays, almost every person owns numerous accounts on the internet. Once you have created one on social networks, with an email provider and other cloud services, your data is stored online. With the increasing digitalisation of everyday life, the question of the extent to which a person's digital estate can be inherited is also [...]
The fashion group Esprit has had to enter its German branch into protective shield proceedings under German insolvency law. This move has been made in order to allow the company to restructure itself and gain protection from its creditors while doing so. Under such proceedings, Esprit will seek to make changes to its business, [...]
The COVID-19 coronavirus crisis has proved to have caused great difficulties in the German labour market. We have previously written about how COVID-19 has interacted with employment law in Germany and with short-time working in Germany. In some fields, however, there have been shortages of employees. During the COVID-19 coronavirus crisis there were steps [...]
The spread of COVID-19 coronavirus is leading to unprecedented measures worldwide. This not only affects the personal sphere for now more than a billion people in the form of curfews, quarantines and social distancing measures, but companies in particular are also very much affected by the coronavirus crisis. Considerable losses in turnover, the loss [...]
The COVID-19 coronavirus outbreak in Germany is causing substantial difficulties for employees and companies around Germany and in some cases this is leading to job terminations. In Germany, employees are protected from unfair dismissal and these laws are in place even with the ongoing current crisis. Our page on unfair dismissal in Germany will [...]
In case of conflict with the employer, employees generally first have a look into their employment contract. Should they realise that a provision is formulated to their disadvantage, they often give up any further action. However, this is often a mistake. Employment contracts regularly contain provisions that are invalid and therefore not enforceable. [...]