US EditionDaimler Truck to Double Defense Business, Cut 5,000 Jobs
GERMANY, JUL 8 – Daimler Truck aims to save over €1 billion annually by cutting 5,000 jobs across five German sites to improve profitability after a 5% sales decline, officials said.
- On Wednesday at its Cleveland Capital Market Day, Daimler Truck announced plans to cut 5,000 jobs in Germany by 2030 under the Cost Down Europe program.
- Following a 5% Q2 sales decline, especially in the US, Daimler Truck aims to improve resilience through job cuts in Germany's five plants.
- Daimler Truck's European restructuring includes job cuts at five German plants, mainly through natural attrition and early retirement, with a pledge to avoid compulsory redundancies until 2034.
- Daimler Truck expects over €1 billion in annual savings and a 12% profit margin target by 2030, with shares initially falling up to 4.3% before rebounding.
- Daimler Truck plans to cut 5,000 German jobs by 2030, aiming for €1 billion annual savings and a 12% profit target amid industry shifts to zero-emission and defense growth.
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Daimler Truck wants to save over one billion euros by 2030. At the same time, the customer service is to be improved. Jobs are falling away in Germany.
Truck manufacturers are dismantling 5,000 jobs in Germany – despite big business with military vehicles. There is a major order from the Bundeswehr: a "middle three-digit number" of military trucks is to be delivered.
Daimler Truck plans to remove around 5,000 jobs in Germany by 2030.
Ghent has released a new list of jobs per department that will be cut by 2031. The current list includes 416 jobs (full-time equivalents). Previously, it was estimated at 350 to 400 positions. The list and the detailed cost-cutting plans will be further clarified this evening by the city council. Meanwhile, the unions are threatening action, including during the Ghent Festivities.
Commercial vehicle and truck manufacturer Daimler Truck plans to cut around 5,000 jobs in Germany by 2030, the DPA agency reported. According to a company spokesman, the jobs will be cut mainly through natural turnover and partial retirement. However, targeted layoff programs are also possible.
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