Daimler to cut 1,100 management positions worldwide, reports say

Daimler will cut 1,100 leadership positions worldwide, or about 10 percent of its management, reports said.

The job cuts are part of sweeping cost reductions planned by new CEO Ola Kallenius, Bloomberg and the Sueddeutsche Zeitung said on Friday.

According to an internal letter that was sent to employees by works council chief Michael Brecht and his deputy Ergun Luemali, labor representatives are willing to discuss buyout offers for some employees.

The letter, seen by Bloomberg, stressed conditions must be good and acceptance would have to be based on a voluntary decision.

Daimler has signed a labor pact that rules out forced layoffs in Germany through 2030.