Agreement Reached on Cost-Cutting Program

In a significant move, the Mercedes Works Council has finalized an agreement with the company's management concerning a comprehensive cost-cutting program. This program notably includes plans for job reductions, as reported by WirtschaftsWoche on Tuesday.

Voluntary Buyouts and Compensation Packages

Employees are set to be offered voluntary buyouts, with the condition that termination will only occur upon mutual agreement between the employee and the company. A video detailing these measures was shared on the automaker's internal network, although specifics regarding compensation packages remain under wraps.

Wage Increases and Vacation Days

As part of the strategy to save costs, the plan includes a reduction in wage increases and mandates the use of vacation days instead of cashing them out. Additionally, some administrative functions will be outsourced to further streamline operations and reduce expenses.