The Daimler Group reports strong business figures for the second quarter. But there is no end in sight to the company’s savings.
Despite surprisingly lush profits, the car and truck manufacturer Daimler does not want to question the savings made in personnel.
“Neither we can nor do we want to give up the Swabian gene of saving,” said CEO Ola Källenius to journalists in Stuttgart. Despite good business figures, the company must continue to work on its efficiency, especially since “considerable billions” are currently being spent on converting combustion engines to electric motors. An end to saving would be “not the best strategy for mastering the transformation,” said Källenius.
Around a year ago, at the beginning of the corona pandemic, due to the deeply red numbers and a slump in demand, Daimler once again tightened an austerity course that had already been initiated, according to reports, between 20,000 and 30,000 jobs will be lost in this way.
In view of a surprisingly quick market recovery and high profits in the first half of the year, Daimler’s General Works Council Chairman Michael Brecht is now calling on the Board of Management to give in. “If we have full order books and the profits are gushing, how should the workforce understand the cost-cutting measures that should run over the years?”, Said Brecht of the “Automobilwoche”.
Despite the ongoing Corona crisis and delivery bottlenecks for important electronic components, Daimler reported strong business figures for the second quarter. Compared to the corona-related collapse in business a year ago, sales climbed by 44 percent to 43.5 billion euros. Between April and the end of June alone, net profit was 3.6 billion euros. In the entire first half of the year, the group earned a net 7.9 billion euros.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
