{"text":[[{"start":7.54,"text":"Mercedes-Benz has decided to halt “all further investments” in Germany and warned that plant closures were now an option, marking an escalation of its stand-off with unions in a bid to reduce labour costs."}],[{"start":19.6,"text":"The German premium carmaker has called for longer working hours without extra pay to boost productivity but has failed to reach a deal with its works council despite four months of negotiations."}],[{"start":30.52,"text":"In an interview with board members published on the company’s intranet on Thursday, its production head Michael Schiebe said “the current cost structures do not allow us to invest in Germany”."}],[{"start":40.76,"text":"Britta Seeger, the group’s labour director, added: “We all want to avoid plant closures at all costs. Unfortunately, however, this is now an option we have to examine more concretely.”"}],[{"start":51.88,"text":"The carmaker issued a profit warning last month due to slumping sales in China and has accelerated its restructuring measures to compete against the rise of Chinese rivals in its home markets."}],[{"start":62.62,"text":"The company has called for employees to work 40 hours a week without extra pay, arguing that high labour costs are eroding the country’s competitiveness."}],[{"start":70.68,"text":"Today, a working week of 35 hours is the collectively agreed standard for about a fifth of German employees, concentrated in sectors including automotive, engineering, iron and steel."}],[{"start":82.56,"text":"“Despite numerous intensive discussions, we currently see no path towards an agreement,” Schiebe said. “But we need to act now. We are operating in an extremely challenging environment . . . This has fundamentally changed our economic position.”"}],[{"start":96.9,"text":"The German automotive industry has come under intense pressure due to high labour and production costs, which have made it difficult for manufacturers to compete against more affordable electric vehicles and hybrids from China."}],[{"start":109.04,"text":"Volkswagen, Europe’s largest carmaker, is cutting 100,000 jobs and plans to close four factories after striking a historic deal with its powerful trade unions in September."}],[{"start":124.56,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1794538826_1259.mp3"}