Mercedes to Cut More Jobs as Chinese Competition Bites
Premium German carmaker Mercedes-Benz will restart a voluntary redundancy program and is in discussion with unions over further cost-cuts, its chief executive Ola Kaellenius said Wednesday after the firm warned on full-year profits. "Germany accounts for roughly 15 percent of our sales, but two-thirds of our employees and structures are based here," Kaellenius told reporters and investors on an earnings call to present third-quarter results.
