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Mercedes Weighs Plant Cuts
Mercedes-Benz has frozen additional investment at its sites in Germany and is considering closing some plants unless it cuts costs, amid Chinese competition and rising expenses. The company said talks with unions had made no progress, while the IG Metall union is demanding a 5% pay rise—an increase management has described as excessive. Mercedes said it hoped to reach an agreement, while an analyst warned that Germany’s auto industry was facing a major crisis.
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