Daimler Warns Executives Of Drastic Salary Cuts Due To COVID Impact

Daimler chief executive Ola Kallenius said that his company, as well as the car industry as a whole, are facing painful salary cutbacks due to the economic fallout caused by the COVID-19 pandemic.

This situation will result in carmakers having to restructure their business more harshly than they originally thought, said Kallenius during a webcast hosted by the German manufacturer’s main labor union, IG Metall.

MDarringer - 7/2/2020 11:02:04 AM

-1 Boost

More like drastic pay cuts due to fiscal mismanagement.