Daimler AG has announced plans to cut thousands of jobs globally by the end of 2022, but they are not expected to include the company's truck division.
“Daimler aims to cut thousands of jobs worldwide by the end of 2022,” the company said in a statement. “The agreed job protection in Germany until the end of 2029, which was promised and agreed upon in the spin-off of Mercedes-Benz Cars & Vans and Daimler Trucks & Buses, stays untouched for Daimler AG, Mercedes-Benz AG and Daimler Truck AG.”
The company said it was hoping to save $1.5 billion over three years through staffing reductions.
“The automotive industry is in the middle of the biggest transformation in its history,” the company's statement continued. “The development towards CO2-neutral mobility requires large investments, which is why Daimler announced in the middle of November that it would launch a program to increase competitiveness, innovation and investment strength.”
In late November, Daimler said additional details regarding the job cuts would be forthcoming soon. The parent company of Mercedes-Benz and Freigtliner said softening car sales in China and the expensive nature of developing electric vehicles were behind the decision to trim its workforce.
"With the key points we now agreed with the works council to streamline the company, we can achieve these goals by the end of 2022. We will make the measures as socially responsible as possible," said Wilfried Porth, member of the board of management of Daimler AG.
