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German Car Maker Daimler to Lay Off 1100 Top Management

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German luxury carmaker Daimler plans to cut 1,100 management jobs worldwide in fresh efforts to cut costs as it grapples with expensive recalls and a slowing global market, a German newspaper reported.

The cull would see the Mercedes-Benz maker slash one tenth of all senior roles in Germany alone, the Sueddeutsche Zeitung wrote, citing an email sent to staff by the group’s works council.

Daimler CEO Ola Kallenius will unveil details of the layoffs at a capital markets day in London on Thursday, it said.

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