Daimler AG to cut Jobs

Daimler AG announced that it would eliminate thousands of jobs worldwide by 2022. This follows the weakening car sales in China and the expensive costs of manufacturing electric cars.

The plan is to reduce costs by around $1.5 billion.

According to Transport Topics, the automotive industry is transforming towards more CO2 friendly investment. To read more, about why Daimler AG will cut costs, go to Transport Topics.