Mercedes-Benz Announces Plans to Cut Costs by Billions Annually

The automaker cites global economic volatility and declining sales, particularly in China, as key drivers for the cost-saving measures.

Mercedes-Benz plans to reduce annual costs by several billion euros over the coming years to address financial challenges.
The company has not disclosed specific measures for achieving these savings, leaving questions about potential job cuts unanswered.
A significant drop in third-quarter profits was reported, with net earnings falling over 50% to €1.72 billion and revenue declining by 6.7%.
China, a critical market for Mercedes, has seen decreased demand for its premium vehicles, compounded by growing competition from local automakers.
Mercedes reaffirmed its commitment to job security in Germany, maintaining an agreement that protects employees from layoffs until the end of 2029.