'More with less' to become a goal at DaimlerChrysler
September 29, 2005
BY JOE GUY COLLIER
FREE PRESS BUSINESS WRITER
DaimlerChrysler AG chairman-in-waiting Dieter Zetsche, famous for cutting costs and turning around Chrysler, took his first steps Wednesday at getting Mercedes in shape.
Zetsche left Auburn Hills-based Chrysler Group this month to take over the ailing German-based Mercedes Car Group of DaimlerChrysler. He is to become chairman of the entire company in January.
DaimlerChrysler announced Wednesday that it would be cutting 8,500 employees, or about 8% of the workforce, at Mercedes at a cost in buyout packages of about $1.1 billion. The company's stock rose $2, or about 4%, to $54.83 Wednesday.
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