Daimler to cut 3,500 jobs in U.S., Canada.
AFP (10/15) reports, "Auto and truck maker Daimler said on Oct. 14 it would cut 3,500 jobs in the U.S. and Canada in the face of slumping demand." The company attributed the cuts to "a decision to discontinue the group's Sterling Trucks brand" that was made earlier this year. "Plants in Ontario, Canada and Portland, Ore. will be closed, while production would increase at two Mexican factories. Some 2,300 workers at the Canadian and U.S. plants would be directly affected by the closures, along with another 1,200 administrative workers." The combined figure "represents more than one quarter of Daimler's North American heavy truck workforce." The company said it "would make additions to its Freightliner and Western Star lines 'to address market segments that have been served by Sterling offerings' until now." AFP notes that the move "was expected to produce annual savings of $900 million. Costs were estimated at $600 million meanwhile."
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