Report: Daimler Targets 20% Cut in Administrative Costs
Ola Kallenius, who will take over as CEO of Daimler AG on May 22 when Dieter Zetsche retires, aims to slash the company’s central administrative costs by 20%, sources tell Handelsblatt.
The German financial daily says the cuts will be detailed in a plan called “Move” that Kallenius (pictured) will unveil this summer. The Handelsblatt report follows one last month by Manager Magazin that says Daimler aims to cut costs at its passenger car and commercial vehicle operations a combined €8 billion ($89 billion) by 2021.
The goal of the program is to bolster Daimler’s profit margins in the face of trade wars and new-vehicle launch costs. Daimler’s net profit dropped 28% last year.
Delegates to the United Auto Workers union’s annual convention in Detroit have overwhelmingly approved a 31% raise for their salaried international leaders.
Ram Truck chief exterior designer Joe Dehner talks about how they’ve developed the all-new pickup. “We’ve been building trucks for over 100 years,” he says. “Best I could come up with is that this is our 15th-generation truck.”
I'm not talking about a plastic Revell model of a '57 Chevy, but a real vehicle, one that rolls off an assembly line in 1999 with another 99,999 just like it right behind. Is it possible, or is this just a fantasy of the marketing department at Elmer's?