N-TV (commercial German news) had a business piece this morning, which concerned the German car industry.
The head of Mercedes HR made a blunt statement yesterday....that in the future (not saying here in the summer or the fall) that a significant number of Mercedes employees will be let go.
The number that N-TV suggests? 10k to 15k Mercedes people.
If this were to happen? It'd be a harsh event for the Baden-Wurttemberg and Bavaria region.
But the HR guy is carefully pointing at three events occurring at the same time....a worldwide economic slowdown, a Covid-19 situation affecting Germany itself, and the impending electric car situation.
In a normal one-event situation....you could easily flip to short-time work and slide through six to twelve months. But with all three in play....short-time won't do much to help.
Adding to this....no one can say with any real confidence that the general public (not just in Germany, but across Europe and the globe) will be particularly interested in electric cars.
When this downsizing will occur? There's no way to predict this, but you'd see a major shift on 2021 economic predictions if the 15k number were the goal....because it would spread across other companies (Opel, VW, BMW, Audi) as well.
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