Maher Hassan
German car giant Mercedes–Benz is going to lay off about 15% of its employees in China, the Avtostat agency reported.
It is expected that employees in the sales and finance departments will be laid off.
The goal of this human resources policy is to adapt to new market conditions: optimizing business processes and increasing operational efficiency.
The cuts are expected to affect the company’s Mercedes-Benz Automobile Finance and Beijing Mercedes-Benz Sales divisions.
It was previously reported that from January to September, the Mercedes-Benz Group’s net income decreased by 31% compared to the same period in 2023 – from 11.37 to 7.8 billion euros, and earnings before taxes (EBIT) – by 32%. The company’s total sales for the year fell by 4%, or 66.5 thousand units, to 1.46 million. The company’s management explained this dynamics by tough competition in the Chinese market and the weak macroeconomic situation in Germany itself.
