Daimler Truck Announces Billion-Euro Cost-Cutting Plan in Europe

The company aims to improve profitability by 2030 through efficiency measures, including reductions in personnel costs in Germany.

Daimler Truck has launched a cost-cutting program, 'Cost Down Europe,' targeting over €1 billion in savings by 2030, focusing on its Mercedes-Benz Trucks division.
The program will impact all cost categories, including personnel costs, but layoffs through forced redundancies are ruled out in Germany until 2029 due to an existing agreement.
Discussions with the company’s works council are ongoing, with the council urging the integration of cost-saving measures into a growth-oriented strategy.
The company reported a challenging 2024, with a 12% decline in global vehicle sales, a 3% drop in revenue to €54.1 billion, and a 15% reduction in operating profit to €4.7 billion.
Despite recent difficulties, Daimler Truck is optimistic for 2025, projecting a 5–15% increase in operating profit and citing strong order growth in late 2024.