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Daimler CEO Faces Labor Resistance Ahead of Key Investor Meeting

Nov. 8, 2019, 2:51 PM

Daimler AG workers are starting to push back against a broad plan to cut costs drafted by new Chief Executive Officer Ola Kallenius ahead of critical investor meetings in London and New York next week.

Kallenius has outlined a plan internally to cut 10% of management positions in Germany and a total of about 1,100 worldwide, according to an internal letter seen by Bloomberg that was sent to employees on Friday by works council chief Michael Brecht and his deputy Ergun Luemali.

Ola Kallenius
Photographer: Qilai Shen/Bloomberg

The labor representatives acknowledge the need for targeted measures to improve the German manufacturer’s financial situation amid...

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