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Daimler to cut thousands of workers by 2022

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Daimler to cut thousands of workers by 2022
November 29
13:00 2019

The German auto concern Daimler intends to cut thousands of jobs at its enterprises by the end of 2022. Future cost reductions are associated with growing investments in the latest technology.

Cutting the number of employees will help achieve the goal of reducing staff costs by 1.4 billion euros by 2022.

“Now the automotive industry is undergoing major changes. CO2 neutrality forces us to allocate additional funds for the development of innovative programs. Daimler will implement policies to increase competitiveness and focus on investing in new technologies, ”the company said.

“Cutting staff cost by 1.4 billion euros by 2022 is one of the points of the program. This is mainly about managerial structures. The company plans to cut the number of such posts by about 10% worldwide. The board has already agreed on important points with the trade unions and has committed to cut staff with maximum social responsibility,” the press release says.

The guarantees made by Daimler regarding preserving jobs in Germany until 2029 remain valid.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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