Daimler: up to 15,000 redundancies on the cards
(CercleFinance.com) - Daimler could make up to 15,000 redundancies, Handelsblatt said this morning.
This comes as no surprise in itself; the group already announced that it intended to lay off several thousand of its staff at end-November, to cut costs.
Savings are expected to largely exceed 1.4 billion euros, with the group wanting to reduce its investments in loss-making projects. Daimler is also looking for a majority shareholder for its Lab1886 innovation centre, Handelsblatt said.
Management would also like to streamline its automobile range the German daily said. This could mean not renewing certain car models and merging other vehicles.
Daimler therefore plans, amongst other things, not to replace certain retirees, so as to reduce forced dismissals, while the possibilities of early retirement have also been extended. Various layoffs are expected to occur in Germany, reducing the number of admin jobs.
In detail, Daimler thus planned to reduce personnel costs by around 1.4 billion euros by the end of 2022 and, amongst other things, cut the number of management positions worldwide by 10%. A reduction in weekly working hours has also been offered to certain employees.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
This comes as no surprise in itself; the group already announced that it intended to lay off several thousand of its staff at end-November, to cut costs.
Savings are expected to largely exceed 1.4 billion euros, with the group wanting to reduce its investments in loss-making projects. Daimler is also looking for a majority shareholder for its Lab1886 innovation centre, Handelsblatt said.
Management would also like to streamline its automobile range the German daily said. This could mean not renewing certain car models and merging other vehicles.
Daimler therefore plans, amongst other things, not to replace certain retirees, so as to reduce forced dismissals, while the possibilities of early retirement have also been extended. Various layoffs are expected to occur in Germany, reducing the number of admin jobs.
In detail, Daimler thus planned to reduce personnel costs by around 1.4 billion euros by the end of 2022 and, amongst other things, cut the number of management positions worldwide by 10%. A reduction in weekly working hours has also been offered to certain employees.
Copyright (c) 2020 CercleFinance.com. All rights reserved.