Mercedes-Benz to axe more than 1,000 jobs in cost-cutting drive
(The Guardian Germany)

Move blamed on heavy cost of investing in electric vehicles just as traditional car sales slowMercedes-Benz plans to save EUR1.65bn (£1.4bn) by cutting more than 1,000 jobs in the latest sign German carmakers are struggling to make big investments in electric car technology.Carmakers around the world are spending billions on developing battery-powered electric vehicles but at the same time sales of internal combustion engines are slowing in the face of economic weakness and scandals over emissions. Related: Germany avoids recession with surprise return to growth - business live Continue reading...