UPDATE 1-Daimler's Smart agrees with workers over job cuts

Newswire

(Adds background, details) FRANKFURT, May 24 (Reuters) - Management at DaimlerChrysler's loss-making Smart unit has reached an agreement with its works council over 300 job cuts in Germany, Smart said on Wednesday. "The necessary personnel measures begin on July 1 and should be completed by the end of this year," it said in a statement, reaffirming it expected to be able to post a profit in 2007. The cuts follow a board decision late in March to scrap the four-seater Smart model and ...

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