Mercedes-Benz halts investments in Germany and considers plant closures
Mercedes-Benz has suspended all new investments at its German facilities and is considering potential factory closures. The company's decision follows warnings that production costs in Germany can be five times higher than in Eastern Europe. This move comes as the automotive industry faces significant economic challenges.
- Mercedes is also examining possible factory closures in Germany.
- The management decided to suspend all new investment at German sites.
- A production hour in Germany costs up to five times more than in Eastern Europe.
- Michaël Schibe warned that two German factories might close without employee concessions.
- Ferdinand Dudenhoeffer said Germany's car industry is in its biggest crisis since its inception.
- The IG Metall union is demanding a pay rise of five percent.
- Britta Seeger called the union's demand totally excessive.
- Volkswagen plans to cut 120,000 jobs globally by the end of the decade.
- Mercedes-Benz revised its profit outlook down to 5.8 billion euros.
Outlets: Berliner Morgenpost, Deutsche Welle, Deutschlandfunk, Die Welt, El Economista (México), Euronews (FR), Gulf News, Handelsblatt, Hospodářské noviny, Kathimerini (Greek), Novinky.cz, Proto Thema (Greek), Punch, RTL Today, RTP Notícias, WAZ, ZDFheute, Zerkalo, n-tv
Written by AI from the outlets' reporting and checked automatically; it can contain mistakes. How Daily Brief works · Privacy