* Sao Paulo - Auto maker terminates contracts after voluntary layoff program fails to reach its target
--- Mercedes-Benz, a unit of Daimler AG, cut 370 jobs in Brazil, after its voluntary layoff program failed to reach its original target, amid reduced sales of trucks and buses... The auto maker, which has four units across Brazil, said that the job cuts took place in its unit in São Bernardo do Campo in the state of São Paulo, where there is a total of around 9,000 employees... At the end of August, the company kicked off a voluntary layoff program to cut a total of 1,400 jobs. However, only 1,047 employees registered for the program, obligating the company to terminate other employees contracts, to reach its cost reduction target... For those, who attended the layoffs program, the company will make an one-time payment of 100,000 reais ($31,000), regardless of seniority and age... In the first eight months of this year, the most recent figure available, Mercedes posted a sales decline of 23.4% for trucks, and 24.7% for buses in Brazil. The company’s São Bernardo do Campo unit only manufactures trucks and buses...
(Photo: MB Do Brazil's, Juiz de Fora plant) -- Sao Paulo, SP, Brazil - The WSJ (USA), by Rogerio Jelmayer - Sept. 8, 2016Labels: truckmakers news worldwide
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