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Source: زاد الاردن
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Mercedes-Benz has announced a freeze on any further investment at its German sites and has begun examining the possibility of closing some of them unless costs are reduced. The move comes amid competition from China, rising expenses and stalled negotiations with employee representatives. The IG Metall union is demanding a 5% pay rise, which the company has described as excessive. Mercedes has also cut its profit forecast to €5.8 billion, having previously expected growth of at least 15%.
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