Job Cuts At Mercedes Cost Less Than Expected Says DaimlerChrysler

[Alx]

Investors with a stake in DaimlerChrysler will be pleased to hear that job cuts at its Mercedes Car Group cost less than originally expected.

According to the company, the cost to cut a total of 9,300 jobs amounted to roughly EUR 840 million, down from the EUR 950 million it was originally expected to total.

DaimlerChrysler board member Guenther Fleig said the company has no plans for further job cuts in Germany and that no further charges are expected from the aforementioned cutbacks; he did however note that production-related jobs are likely to lessen in the future due to rising productivity.

For more info, head over to MarketWatch where you can the full story of Mercedes' job cutting costs.

 

[klier]

Still, that is almost enough money to develop an all new model.

More than a billion Dollars, wow! 1.072 billion Dollars to be exact. I don't think ANYONE is happy with this. I wouldn't be.

 

[cawimmer430]

Investors with a stake in DaimlerChrysler will be pleased to hear that job cuts at its Mercedes Car Group cost less than originally expected.

Kind of sad how these people will be pleased to hear this news while the guy getting the kick is scared for his future.

Unions in Germany are very tough on hiring and firing. When you fire somebody, I believe you have to let them know 3 months in advance and of course compensate them with a lot of money.