Daimler Plans Cuts at Freightliner Unit
DaimlerChrysler announced a $330-million restructuring of its Freightliner commercial truck division that includes cutting 2,700 jobs, saying it sees no sign of recovery in the commercial vehicles market in the immediate future.
DaimlerChrysler said it will shut two Freightliner assembly plants in Canada and a parts plant in Portland, Ore. The cuts will affect 1,100 salaried employees and 1,600 hourly employees, or 18% of the unit’s work force, by the end of next year.
The moves, which were planned before the terrorist attacks, will cut Freightliner’s production capacity by 15%.
DaimlerChrysler shares fell 87 cents to $34.81 on the NYSE.
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