DaimlerChrysler to cut management by fifth

Newswire

FRANKFURT, Jan 24 (Reuters) - DaimlerChrysler will cut its management by up to a fifth over the next three years, chopping 6,000 jobs as a way to boost efficiency, the world's fifth-biggest carmaker said on Tuesday. "In total, the new management model will reduce the cost of administrative functions at DaimlerChrysler, in an effort to reach benchmark levels," it said in a statement. "Together with other ongoing efficiency programs...(administrative) costs are expected to be reduced by ...

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