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FRANKFURT (MarketWatch) -- DaimlerChrysler AG's (DCX) job-cutting program at its Mercedes unit may be completed ahead of schedule and may cost more than planned, weekly Focus Money reported Tuesday ahead of publication Wednesday, citing a company manager.
The manager told the magazine that about 7,000 employees had already been cut or had signed severance agreements.
Mercedes had planned to cut 8,500 jobs by September while costs were expected to be about EUR950 million but the magazine added that the company now expects costs to exceed EUR1 billion.
Magazine Web site: http://www.focus-money.de
The manager told the magazine that about 7,000 employees had already been cut or had signed severance agreements.
Mercedes had planned to cut 8,500 jobs by September while costs were expected to be about EUR950 million but the magazine added that the company now expects costs to exceed EUR1 billion.
Magazine Web site: http://www.focus-money.de
