On the 26th, Mercedes-Benz China unveiled a restructuring plan involving a layoff ratio of roughly 15%, predominantly targeting the sales and automotive finance divisions. Affected employees will be entitled to an N+9 compensation package, and in the event they fail to secure new employment within the following two months, they will continue to receive salaries for March and April. The layoffs extend across nearly all departments, signifying a broad impact. On February 25th, Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group AG, presided over an employee meeting. The fiscal 2024 earnings report revealed a 28% year-on-year decline in the company's net profit, primarily attributed to slumping sales, particularly in the Chinese market. Källenius emphasized that to preserve the company's competitiveness, a suite of measures aimed at enhancing efficiency, streamlining operations, and bolstering strength are being implemented, with layoffs being a critical component. Furthermore, Mercedes-Benz intends to pursue similar restructuring efforts in other countries and regions.