Mercedes Benz to lay off 1000s as the world switches to electric cars

The end of the gas engine is casting a huge shadow over the entire automotive industry: but there is life after the 'valley of death'!

From the economist daily newsletter:

“Daimler hit the brakes. The German automaker told investors its move towards electric vehicles would hurt profits in 2020 and 2021, news that caused its shares to drop more than 5%. The company in turn plans to cut more than $1 billion in employment costs by 2022”

I’ve talked about this 7 years ago – the shift in the car industry is as big as the shift in digital music!  And think about what is happening here, now: 120M + digital music subscribers!