Pain For German Car Industry As Daimler Axes 10,000 Jobs
November 29, 2019
4:41 pm
Luxury automaker Daimler said Friday it would scrap at least 10,000 jobs worldwide, the latest in a wave of layoffs to hit the stuttering German car industry as it battles with a costly switch to electric.
The Mercedes-Benz maker said it wanted to save 1.4 billion euros ($1.5 billion) in staff costs by the end of 2022 as it joins rivals in investing huge sums in the greener, smarter cars of the future.
“The total number worldwide will be in the five-digits,” Daimler personnel chief Wilfried Porth said in a conference call about the job cull.
He declined to give …
