Daimler reveals 1,240 layoffs, including 600 at Freightliner plant

© Reuters. Daimler Trucks The United States and Canada said it will get rid of 600 positions at a North Carolina plant this month

Investing.com– Daimler (DE:-RRB- Trucks announced strategies to layoff 1,240 workers at a trio of factories throughout the U.S. and an added one in Mexico, the company said on Monday.
The layoffs come several weeks after the German car company reduced its full-year financial projections due to slowing sales. Of the task removals, roughly 800 positions will be terminated at two facilities in Gaston County, North Carolina. Daimler, which said last month that it anticipates full-year operating earnings to be considerably listed below in 2014’s revenues, expects a decrease of 15% in medium and heavy duty trucks in 2012.
Daimler expects to layoff 600 Freightliner employees at a plant in Mount Holly, N.C., in addition to another 200 at another facility in Gastonia. Presently, there are around 1,450 staff members at the strategy in Mount Holly. The lay-offs are set up to occur from June 24 through July 1.
” These workforce modifications are expected to be temporary and workers will have first rights to be recalled when production has the ability to sustain a higher develop rate,” the business stated in a statement.
It comes days after a report from the National Vehicle Dealers Association (NADA) revealed that sales volume amongst its benchmark sleeper tractors at two prominent auctions remained inactive in May. As a result, NADA said costs for its 2011-2013 fleet fell greatly by 5.6% generally.
” The situation of worldwide truck markets has actually been hard for a number of months and has worsened in current weeks,” the business stated last month. “In The United States and Canada, there has been no revival of orders gotten, particularly in the sturdy sector.”
Shares in Daimler closed on Monday at EUR59.36, up 0.08 in 0.13% prior to the statement.
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