UPDATE 2-DaimlerChrysler to cut management by fifth

Newswire

(Rewrites with company announcement) By Michael Shields FRANKFURT, Jan 24 (Reuters) - DaimlerChrysler will cut its bloated management by up to a fifth over the next three years, chopping around 6,000 jobs as a way to boost efficiency, the world's fifth-biggest carmaker said on Tuesday. The global programme -- the first major strategic step by new Chief Executive Dieter Zetsche -- will cost around 2 billion euros ($2.5 billion) by the end of 2008 but should reap substantial savings. ...

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