BERLIN—German efficiency has taken a hit this year as many of the country’s most recognizable corporate names wrestle with a slowing local economy, questionable business decisions and trouble shifting to a digital world.

In the past week, Deutsche Bank AG abandoned its global ambitions and initiated layoffs, and the chief executive of BMW AG said he would step down. Profit warnings from BASF SE and Daimler AG—which issued its second in less than a month on Friday—have rattled markets.

Those setbacks add to a worrisome mix that includes Bayer AG’s legal trouble with its acquisition of Monsanto, the maker of weedkiller Roundup, and the challenge to German auto makers from a depressed global car market and continued fallout from the diesel-emissions scandal. Meanwhile, German blue chips—from software maker SAP SE to industrial giant Thyssenkrupp AG —have announced tens of thousands of job cuts combined this year.

Roughly one in three large public companies in Germany’s DAX index have reported profit warnings, job cuts or restructurings, or are dealing with formidable legal disputes or investigations from authorities. Firms based here are slipping from the ranks of the world’s most-valuable companies, leading consulting firm Ernst & Young to conclude this month that “German companies are losing their importance.”

While specific challenges loom large for some companies, broad trends are also working against them. Analysts cite the effects of global trade disputes on Germany’s export-oriented economy, the increased pressure to digitize and a degree of complacency after years of robust growth.