STUTTGART, Germany, July 23 (Reuters) - German automaker DaimlerChrysler said on Friday the company's works council agreed to 500 million euros ($613 million) of cost cuts annually at its Mercedes unit.
The company said in a statement that it guaranteed 6,000 jobs at Mercedes until 2012 as part of the agreement, which followed 16 hours of talks between group management, the works council and the IG Metall union.