Major Workforce Reduction Announced

In a significant move towards operational efficiency, Daimler Truck has announced its plan to eliminate approximately 5,000 positions in Germany by the year 2030. This decision, unveiled during the company's Capital Markets Day in Charlotte, North Carolina, is part of a broader strategy to slash recurring costs by over €1 billion.

Focus on Mercedes-Benz Trucks Division

The job cuts will predominantly impact the Mercedes-Benz Trucks division, with the majority of reductions expected to be achieved through natural attrition and partial retirement. However, the company has not ruled out offering severance packages where necessary. Currently, Daimler Truck employs around 35,500 individuals in Germany, based in Leinfelden-Echterdingen.

Profitability and Cost-Cutting Measures

Alongside the workforce reduction, Daimler Truck has set ambitious financial targets, aiming for a pre-tax margin exceeding 12% in its industrial business by 2030. The "Cost Down Europe" program is at the heart of these efforts, focusing on reducing expenses across materials, administration, and development to enhance overall profitability.