Overview

• Daimler Truck has launched a cost-cutting initiative called 'Cost Down Europe,' targeting €1 billion in savings by 2030.
• The program will primarily affect the truck division's European operations, excluding the bus manufacturing segment.
• The company has not disclosed specifics about how the savings will be achieved, leaving questions about potential job cuts or production shifts unanswered.
• The workforce, including 34,000 employees in Germany, has raised concerns, with the Betriebsrat (workers' council) emphasizing that 'savings are not a strategy.'
• Economic pressures, including weak demand in Europe and Asia and competition from rivals like Volvo and Scania, are driving the initiative.