Daimler Truck will reduce its workforce by about 5,000 jobs in Germany by 2030 in response to a 5% sales decline. This decision stems from the need for its Mercedes-Benz Trucks division to become more resilient in the market. The 'Cost Down Europe' initiative aims for over one billion euros in yearly savings, targeting various operational costs, including personnel. Most job cuts will occur through natural attrition and early retirement, and the Stuttgart hub will be primarily affected, impacting its workforce of 28,000.
Daimler Truck announced plans to cut approximately 5,000 jobs in Germany by 2030 as part of its 'Cost Down Europe' program aimed at improving profitability and market resilience.
The job cuts are expected to reduce recurring costs by over one billion euros, targeting personnel, materials, administration, IT infrastructure, and R&D expenses.
Cuts will primarily affect the truck division's Stuttgart hub and will be managed through natural attrition and early retirement, with targeted severance programs also considered.
Daimler Truck reported a 5% decline in second-quarter sales, particularly in the US market, prompting the need for a more resilient Mercedes-Benz Trucks division.
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