German Manufacturing Job Losses Top 100,000 With Daimler Cuts
- Daimler to shed more than 10,000 to save 1.4 billion euros
- Steelmakers to robotics companies are also ditching staff
Daimler alone pledged to cut a total of at least 1.4 billion euros ($1.5 billion) in personnel expenses.
Photographer: Krisztian Bocsi/Bloomberg
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Germany may have narrowly avoided a recession in the third quarter but pressure on the country’s industrial champions shows no sign of abating.