Mercedes Seeks €800M in German Labour Cuts
Mercedes-Benz aims to cut €800 million in German labour costs to address high production expenses. Options include increasing working hours and reducing bonuses. Management warns that two plants face closure without cost agreements.
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MERCEDES-BENZ GROUP AG plans to cut €800 million ($911 million) in labour costs in Germany, three people familiar with the matter said Thursday morning. The automaker faces rising production expenses and fierce competition from lower-cost Chinese EV manufacturers. Management warned workers that two domestic plants could face closure without spending reductions.
