Daimler to seek $6.75 billion in cost savings at Mercedes

  • News Digest

Apr 21, 2019-

FRANKFURT: Daimler is looking to make 6 billion euros ($6.75 billion) in cost savings and efficiency gains by 2021 at Mercedes-Benz passenger cars and a further 2 billion euros at its Daimler Trucks division, Manager Magazin said on Thursday. Around 10,000 jobs will be cut at Daimler, the business-focused magazine said, without citing sources. Daimler declined to comment on the cost savings figure and on Manager Magazin’s report.

The magazine said the savings are being sought by Daimler’s

Ola Kaellenius, who will become Chief Executive in May. Daimler said in February it would pursue cost saving measures after fourth-quarter operating profit plunged 22 percent, hit by trade wars, rising costs for developing electric cars and an industry downturn. (REUTERS)

Published: 21-04-2019 11:28

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