Daimler Cutting 1,500 Brazil Truck Jobs as Demand Plunges
Truck And Bus Production At Daimler AG Plant As Automaker Inaugurates Bus Plant
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Daimler AG is eliminating 1,500 jobs at its Brazilian truckmaking division as demand for commercial vehicles in the country shows no sign of recovery. Workers at one of the plants affected went on strike in response, and the German company’s stock fell the most in almost four years.
Cutting about 13 percent of its workforce in Brazil became inevitable after industrywide truck sales in South America’s largest economy plunged 44 percent in the first half of 2015, compounding a drop last year, said Florian Martens, a spokesman at Stuttgart-based Daimler.