Mercedes Benz COO Warns Of Possible Job Cuts

The number two executive at Daimler's premium brand Mercedes-Benz warned on Monday that a sharp plunge in demand for its luxury cars could lead to job cuts. Mercedes Chief Operating Officer Rainer Schmueckle said the brand was experiencing a 'full-blown sales crisis', which would make it cut personnel levels should the weakness continue for a long time. While it has not yet discussed reduced working hours, it has already cut the number of temporary workers.

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