German company Mercedes-Benz is ready to pay up to 540,000 US dollars to employees willing to volunteer for redundancy.
Major manufacturers in Germany are going through tough times and, therefore, are seeking various opportunities to optimize their production in order to stay afloat.
As part of a cost-saving strategy aimed at saving 5.4 billion, Mercedes-Benz offers its employees significant compensation for voluntary redundancy. Employees who have been with the company for a long time may receive payments based on salary and years of experience. For instance, a 55-year-old manager with 30 years of experience could receive over 540,000 dollars.
According to the company's calculations, more than 30,000 employees will be offered redundancy by the end of April, and responses are required by the end of July. This company is focused on reducing administrative staff but also plans to cut managerial positions to optimize the structure.