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Daimler To Cut Thousands Of Jobs By 2020-end

Daimler (DDAIF.PK) plans to reduce thousands of jobs worldwide by the end of 2022. The company has reached an agreement with labor unions in connection with the workforce reduction.

Earlier in the current month, Daimler stated that the expenditure needed to achieve the CO2 targets require comprehensive measures to increase efficiency in all areas through streamlining processes and structures. To this end, Mercedes-Benz Cars plans to save more than 1 billion euros in personnel costs by the end of 2022; with job cuts planned in both management and the indirect areas.

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