Daimler AG's Mercedes-Benz To Lay Off 1,500 At Brazil Truck Plant-Reuters

Reuters reported that Daimler AG's Mercedes-Benz unit will lay off 1,500 workers at a Brazilian truck factory for up to five months because of declining production, according to the union representing workers at the plant. In April, the unsold inventory of Brazil's automobile industry reached its highest level since November 2008. Truck purchases speeded up last year before stricter motor emissions standards came into effect. A Daimler spokesman in Stuttgart confirmed the layoff program. The Daimler group employees 15,000 people in Brazil at three plants.