SMM: it is reported that Kang Linsong (Ola Kaellenius), CEO of Daimler Group, is planning to implement a new round of cost reduction plan, preparing to lay off another 10, 000 people by the end of 2025. It is reported that Daimler Group is preparing to outsource IT services and further reduce the number of R & D staff.
As early as November 2019, Daimler announced that it would cut 10, 000 jobs by the end of 2022, but it was opposed by the union because it did not inform the union in advance. At that time, Michael Brecht, president of the Daimler Group union, said, "the union did not agree to Daimler's plan to cut more than 10, 000 jobs and made public its layoffs without reaching an agreement with the union, and no car company would do so." I do not know whether this latest round of layoffs will also be "blocked" by the trade unions.
Under the influence of the epidemic, Daimler Group did lose a lot. According to the company's financial results, in the first quarter of 2020, Daimler's operating income was 37.2 billion euros, down 6% from the same period last year; profit before interest and tax was 617 million euros, down 78% from the same period last year; the free cash flow of Daimler's industrial business was negative 2.3 billion euros; the adjusted free cash flow of industrial business was negative 1.9 billion euros. To that end, the group had to launch a credit agreement worth about 12 billion euros in early April.
In terms of sales volume, although Daimler's major factories around the world have resumed production so far, its market performance in the passenger car sector is hardly satisfactory. Mercedes-Benz sold nearly 135000 passenger cars worldwide in May 2020, down 28.6 percent from the same period in 2019, according to relevant data. In terms of sales structure, China has become the best hope for Mercedes-Benz, which sold more than 70,000 passenger cars in China in May, a double-digit growth.
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