UPDATE 1-Mercedes job cuts aim to save 500 mln euros a year

Newswire

(Adds breakdown of job cuts at Mercedes, analyst, background) By Christiaan Hetzner and Michael Shields FRANKFURT, Sept 29 (Reuters) - DaimlerChrysler plans to save around 500 million euros ($603 million) a year through its voluntary redundancy packages for 8,500 workers at its Mercedes Car Group division, it said on Thursday. The world's fifth-biggest carmaker had announced the packages on Wednesday, underscoring German carmakers' attempts to fight the highest labour costs in the ...

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