Mercedes-Benz preparing to axe 10,000 jobs

Daimler, owner of Mercedes-Benz, has confirmed it will cut at least 10,000 jobs between now and the end of 2022. The jobs cuts will be achieved via voluntary severance packages, an expended part-time retirement program, and 'very restrictively' extend temporary workers' contracts. It will also offer shorter working weeks in order to rein in employment costs. Under its current union agreement in Germany, the automaker is prevented from making forced redundancies until 2029.