Mercedes-Benz to cut headcount, lower pay increases amid cost-cutting drive

Mercedes-Benz has secured agreement from its works council to implement cost-saving measures, including job buy-outs and halving planned salary increases. The company aims to cut production costs by 10% by 2027, further reducing them by 2030. No redundancies are planned, and management has extended a job security guarantee until 2034, focusing on outsourcing and voluntary redundancies.