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UPDATE 1-Daimler to cut 1,000 jobs at Mercedes-Benz

Wed Nov 4, 2009 11:03am EST

Stocks

   

* Buyouts planned to reduce headcount

* Efficiency drive counters weak markets

* Daimler shares up 3.4 percent, in line with peers

(Recasts with Daimler comment)

FRANKFURT, Nov 4 (Reuters) - Daimler (DAIGn.DE) plans to cut 1,000 jobs at its Mercedes-Benz Cars premium division by offering a variety of buyout packages to staff, the German carmaker said on Wednesday.

Management and labour representatives have agreed to offer staff up to 50 years old the chance at voluntary redundancies, a company spokesman said.

The Mercedes-Benz car arm now employs around 45,000 staff in Germany.

Two people familiar with the plan had told Reuters earlier that Daimler was planning buyouts to cut its headcount.

Daimler has pledged in agreements with organised labour to refrain from compulsory redundancies through 2011.

Chief Executive Dieter Zetsche has said the group's headcount would have to be significantly reduced next year. (Reporting by Hendrik Sackmann; Writing by Michael Shields)



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