OREANDA-NEWS  German automaker Mercedes-Benz has decided not to invest in German factories anymore and is considering closing them, the DPA news agency reports.

"The board has made a joint decision to suspend all further investments in German production sites," the publication says. According to the director of production, Michael Schiebe, the reason was the lack of compromise in the negotiations between the management and the production council representing the workers. At the current cost level, it is simply impossible to invest money in production in Germany, he noted. In September, Schiebe warned that two Mercedes-Benz plants in Germany were facing closure due to high costs. HR Director Britta Seeger added that the concern is currently exploring which German sites it can still afford.

In June, Handelsblatt wrote that Mercedes-Benz would leave 90,000 of its employees in Germany without an annual bonus and at the same time planned to increase the length of the working week without additional payment. According to the newspaper, this will save more than 10 million euros.

Mercedes-Benz Group AG is one of the world's largest car manufacturers, founded in 1883. The staff consists of about 164 thousand people.