After profit slump
Mercedes cuts jobs in China, according to insiders
Mercedes-Benz has to save money: According to an insider, the German car manufacturer is cutting 10 to 15 percent of jobs in China. Last week, the listed company announced a savings program of five billion euros worldwide by 2027. Jobs are also to be cut in Germany.
The mood at Mercedes-Benz is depressed: last week, the car manufacturer announced that profits had slumped by around 28 percent last year. Now a cost-cutting program is to reduce the Group's costs. Personnel costs, for example, are to be reduced by a quarter by 2027.
Mercedes-Benz wants to make savings in China
It has now been announced: Employees in China could also be affected. According to an insider, 10 to 15 percent of jobs are to be cut in the sales and car financing departments. Similar measures are also planned for IT services and the legal department this year, a person familiar with the matter told the Reuters news agency.
The statements refer to Mercedes-Benz's own employees in China, not to the production joint venture with the Chinese car manufacturer BAIC, BBAC. Mercedes has around 5000 employees in China, including around 2000 in research and development, who are not affected.
The car giant is also planning to cut jobs in Germany. However, the company does not want to reveal how many employees this will affect.
Production to fall by a tenth
The job cuts will also lead to lower production. According to Mercedes-Benz CFO Harald Wilhelm, the company plans to reduce its global production capacity from 2.5 to 2.2 million units over the next few years. It is certain that production in Germany will be reduced by 100,000 units, i.e. one tenth.
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