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.

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Daimler Warns Executives Of Drastic Salary Cuts Due To COVID Impact

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