Latest news with #AchimPuchert
Time of India
11-07-2025
- Automotive
- Time of India
Daimler Truck to cut 5,000 jobs as German auto woes roll on
German heavy-goods vehicle group Daimler Truck said Tuesday that it would cut around 5,000 jobs by 2030 in the latest sign of woe for Germany's beleaguered automotive industry. A "comprehensive and detailed restructuring plan" covering "six core cost reduction areas" will lead to "a significant job reduction in Germany by 2030", the company said in a statement. In a presentation to investors, Daimler Truck said 5,000 jobs would be cut in Germany, affecting one in seven of its workers there. The company also said the plans, part of a programme to save one billion euros ($1.17 billion) in Europe by 2030, would involve "relocating production to a country with cost advantages". "The company will use natural churn and incentivise employees to take early retirement to cut the jobs in a socially responsible way and offer targeted severance packages," it added. Daimler Truck has struggled in Europe in recent years amid sluggish growth on the continent and particularly in Germany, a core market. Sales by volume at its Europe-focused Mercedes-Benz Trucks business fell 20 percent by volume last year, helping to drag down overall group sales by 12 percent. "We are restructuring our organisation to raise efficiency and reduce complexity," said Achim Puchert, board member for Mercedes-Benz Trucks, adding that Daimler Truck was "very determined" to see the programme through. Daimler Truck says the share of its production made in Germany has already fallen from about a half to a little over a third since 2019. The maker of yellow Thomas Built school buses and Freightliner trucks joins other German automotive firms that have recently sought to cut costs on home soil. Wolfsburg-based Volkswagen, Europe's largest carmaker, said last month that about 20,000 of its German employees had agreed to voluntary redundancy as part of plans to shed 35,000 posts by 2030.
Kuwait Times
09-07-2025
- Automotive
- Kuwait Times
Daimler Truck to cut 5,000 jobs as German auto woes roll on
The lettering Daimler Truck stands in front of the headquarters of Daimler Truck AG in Leinfelden-Echterdingen, southern Germany on May 27, 2025, prior the the company's annual shareholders' meeting. -- AFP FRANKFURT: German heavy-goods vehicle group Daimler Truck said Tuesday that it would cut around 5,000 jobs by 2030 in the latest sign of woe for Germany's beleaguered automotive industry. A 'comprehensive and detailed restructuring plan' covering 'six core cost reduction areas' will lead to 'a significant job reduction in Germany by 2030', the company said in a statement. In a presentation to investors, Daimler Truck said 5,000 jobs would be cut in Germany, affecting one in seven of its workers there. The company also said the plans, part of a program to save one billion euros ($1.17 billion) in Europe by 2030, would involve 'relocating production to a country with cost advantages'. 'The company will use natural churn and incentivize employees to take early retirement to cut the jobs in a socially responsible way and offer targeted severance packages,' it added. Daimler Truck has struggled in Europe in recent years amid sluggish growth on the continent and particularly in Germany, a core market. Sales by volume at its Europe-focused Mercedes-Benz Trucks business fell 20 percent by volume last year, helping to drag down overall group sales by 12 percent. 'We are restructuring our organization to raise efficiency and reduce complexity,' said Achim Puchert, board member for Mercedes-Benz Trucks, adding that Daimler Truck was 'very determined' to see the program through. Daimler Truck says the share of its production made in Germany has already fallen from about a half to a little over a third since 2019. The maker of yellow Thomas Built school buses and Freightliner trucks joins other German automotive firms that have recently sought to cut costs on home soil. Wolfsburg-based Volkswagen, Europe's largest carmaker, said last month that about 20,000 of its German employees had agreed to voluntary redundancy as part of plans to shed 35,000 posts by 2030. — AFP
The Star
08-07-2025
- Automotive
- The Star
Daimler Truck plans 5,000 job cuts in Germany to reduce cost
BERLIN, July 8 (Xinhua) -- Daimler Truck said on Tuesday it plans to cut around 5,000 jobs in Germany by 2030 and to relocate parts of its production to countries with lower costs, as the company looks to reduce expenses and strengthen competitiveness in Europe. The job reductions will primarily be achieved through natural attrition and early retirement, with targeted severance packages also under consideration, the German commercial vehicle manufacturer said. The cost-cutting drive comes amid sluggish economic conditions in Germany and rising energy and logistics costs. Group sales dropped 12 percent in 2024 and fell another 8 percent year-on-year in the first quarter of 2025. Demand for its Mercedes-Benz truck brand, which focuses on Europe and Latin America, declined even more sharply. Sales have also weakened in its North American market. Analysts fear that U.S. tariffs on imported vehicles and materials could add further pressure. To offset these headwinds, the truckmaker aims to cut costs in Europe by more than 1 billion euros (1.17 billion U.S. dollars) by 2030 under its "Cost Down Europe" efficiency program. As part of the plan, production will be partially relocated to "countries with cost advantages," the company said. The restructuring will affect five German plants employing roughly 28,000 workers. Daimler Truck has about 35,500 employees in Germany overall. The bus division will not be affected by the cuts this time. Achim Puchert, a board member responsible for the Mercedes-Benz Trucks and BharatBenz, said that Mercedes-Benz Trucks will make greater use of its global workforce, including teams in countries such as China that offer both talent and cost benefits. (1 euro = 1.17 U.S. dollars)
Yahoo
08-07-2025
- Automotive
- Yahoo
Daimler Truck plans to cut around 5,000 jobs in Germany
Daimler Truck plans to axe approximately 5,000 jobs in its home country by 2030, the German firm announced on Tuesday. The cuts are part of an efficiency drive to reduce recurring annual costs by more than €1 billion by 2030, the firm said in a statement. Savings will also be made on production expenses. 'The company will utilise natural attrition and expand early retirement options to reduce positions in a socially responsible manner, as well as offer targeted severance packages,' said Daimler Truck. Natural attrition means reducing staff by not replacing employees who leave voluntarily. 'The Board of Management and the general works council have jointly agreed on key points to improve efficiency and created clear future perspectives for the locations in Germany,' a spokesperson added in a statement shared with Euronews. Related BMW, Daimler and Volkswagen's shares fall on Trump border tax threat Car industry needs to 'shape up' to compete with Chinese EVs, says Volvo CEO Daimler Truck, which is holding its Capital Market Day on Tuesday in North Carolina, also released financial updates on Tuesday. In a statement, the firm projected organic revenue growth of 3% to 5% per year until 2030 in its industrial business. It said this would be supported by an uptick in the North American vocational truck market. The company also forecasted growth for zero-emission vehicle sales in Europe, and pointed to opportunities in India and the defence sector. Daimler Truck predicted an adjusted return on sales of more than 12% in its industrial business through 2030. Free cash flow is expected to increase by 50% by 2030 compared to 2024. 'At Mercedes-Benz Trucks, our focus is first and foremost on our customers. We want to deliver the products and services that make their business more successful – today and in the future. Therefore, we are focusing on three strategic levers: restructure, leverage and grow,' said Achim Puchert, Member of the Board of Management of Daimler Truck, responsible for Mercedes-Benz Trucks and BharatBenz. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
08-07-2025
- Automotive
- Euronews
Daimler Truck plans to cut around 5,000 jobs in Germany
Daimler Truck plans to axe approximately 5,000 jobs in its home country by 2030, the German firm announced on Tuesday. The cuts are part of an efficiency drive to reduce recurring annual costs by more than €1 billion by 2030, the firm said in a statement. Savings will also be made on production expenses. 'The company will utilise natural attrition and expand early retirement options to reduce positions in a socially responsible manner, as well as offer targeted severance packages,' said Daimler Truck. Natural attrition means reducing staff by not replacing employees who leave voluntarily. 'The Board of Management and the general works council have jointly agreed on key points to improve efficiency and created clear future perspectives for the locations in Germany,' a spokesperson added in a statement shared with Euronews. Daimler Truck, which is holding its Capital Market Day on Tuesday in North Carolina, also released financial updates on Tuesday. In a statement, the firm projected organic revenue growth of 3% to 5% per year until 2030 in its industrial business. It said this would be supported by an uptick in the North American vocational truck market. The company also forecasted growth for zero-emission vehicle sales in Europe, and pointed to opportunities in India and the defence sector. Daimler Truck predicted an adjusted return on sales of more than 12% in its industrial business through 2030. Free cash flow is expected to increase by 50% by 2030 compared to 2024. 'At Mercedes-Benz Trucks, our focus is first and foremost on our customers. We want to deliver the products and services that make their business more successful – today and in the future. Therefore, we are focusing on three strategic levers: restructure, leverage and grow,' said Achim Puchert, Member of the Board of Management of Daimler Truck, responsible for Mercedes-Benz Trucks and BharatBenz.
