Mercedes to Lay Off More Than 8,000
Posted on: Wednesday, 28 September 2005, 18:00 CDT
DaimlerChrysler AG will dismiss more than 8,000 German workers from its troubled Mercedes division, a German newspaper reported.
The Stuttgarter Nachrichten stated that the cuts -- which would be 3,000 more than the 5,000 previously expected -- would be announced on Wednesday, the BBC said.
The luxury car division has been beset with quality control problems and a strong euro currency.
As the euro rises in value against currencies in countries where Mercedes seeks to sell cars, the price of those cars also rises. Alternately, a weakening euro allows Mercedes to cut the price of their exported cars without experiencing smaller profits.
Source: United Press International
Related Articles
- Miller Lite Issues 'Chase Challenge' to Budweiser Car, $50,000 Donation to Charity on the Line During 10-Race Playoff
- 50,000 Euro RapidShare Lottery Prize Goes to India
- BorgWarner's R2S(R) Turbocharger Boosts Power 20%, Improves Fuel Economy & CO2 Emissions 13% for New Mercedes-Benz Diesel Engine
- Telelogic Signs 733,000 Euro Agreement With Global Mobile Communication Manufacturer
- Telelogic Signs 655,000 Euro Agreement With Leading European Aerospace Defense Manufacturer
- Irish author Toibin scoops 100,000 euro book prize
- Air Products to Exchange Euro Debt for Longer-Term Debt
- French Funds for World Environment Allocates 450,000 Euros for Tunisia
- Google May Appeal Trademark Decision
- Microsoft Lodges New Complaint Against Linspire.Com
 |
 |
User Comments (0)
RSS Feeds