Daimler Truck Announces €1 Billion Cost-Cutting Plan in Europe by 2030

The German truck manufacturer aims to address economic challenges with an efficiency program, sparking concerns among workers about potential impacts on jobs and production.

• 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.

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