Daimler says to cut jobs to save 1 bn euros by end-2022

Daimler said Thursday it planned to cut jobs to save more than 1.0 billion euros (USD 1.1 billion) by the end of 2022, as the German luxury carmaker grapples with an expensive switch to greener vehicles.

"By the end of 2022, Mercedes-Benz Cars plans to save more than 1 billion euros in personnel costs. To this end, jobs are to be reduced," the company said in a statement.