Daimler Truck announced plans to cut approximately 5,000 jobs in Germany by 2030 as part of efforts to reduce ongoing costs by over 1 billion euros amid declining sales. The job reductions primarily affect the company's truck division and its five German sites. This move follows weaker market demand, especially notable in the U.S., where Daimler Truck North America plans to temporarily lay off 2,000 employees across five facilities in the U.S. and Mexico. Additionally, the company is considering exiting production in China due to a challenging market downturn described as a 'crazy' down cycle. These measures reflect Daimler Truck's strategic response to persistent difficulties in the global commercial vehicle market.
Daimler Truck Considers Leaving China Production Due To 'Crazy' Downturn – FT 🚚
Daimler Truck mulls China production exit as it faces ‘crazy’ down cycle https://t.co/Er4E7HD79t
Daimler Truck is considering exiting production in China amid what it describes as a ‘crazy’ down cycle, according to the Financial Times.