Nicola Leibinger-Kammüller, the CEO of the Swabian machinery manufacturer Trumpf, painted a grim picture of the German economy, stating in a recent interview with the “Handelsblatt” that the economic situation had never been so dramatic since the end of World War II, suggesting that the coronavirus crisis was nothing in comparison.
Speaking at a company trade fair, she observed a depth of frustration among local entrepreneurs, pointing out that many small and medium-sized businesses were being choked by bureaucracy and reaching their operational limits. “We are losing our industrial base” the Trumpf chief warned.
Leibinger-Kammüller placed the responsibility on the government, insisting that it was the “damned duty and obligation of the federal government to establish a sensible strategy for this country”. She stressed that the political dynamic between the CDU and SPD was clear, and Chancellor Friedrich Merz (CDU) needed to significantly accelerate the pace of reform. Specific structural reforms, particularly regarding the pension system, and clear spending cuts were demanded.
Regarding the sensitive topic of a wealth tax, the Trumpf CEO stated her willingness to pay increased taxes, provided that the additional funds were channeled into education rather than being wasted on “scattershot policies” such as temporary gas station discounts. She explicitly defended Economics Minister Katherina Reiche, calling her “courageous” and someone who proactively drives the necessary changes.
While the company’s overall economic outlook is improving, citing that employees can once again look forward to a bonus or profit-sharing participation this autumn after years of austerity, she noted that the current fiscal year (2025/26, ending in June) is developing “quite properly”. She mentioned that new orders are increasing, offering hope, with the business involving lasers for semiconductor manufacturing running particularly well due to high demand from data center construction. It is worth noting that in the previous year, 2024/25, Trumpf reported a loss and consequently had to lay off approximately 1,000 jobs.
