DaimlerChrysler, workers reach cost-saving deal, union says

Article Abstract:

Top executives at DaimlerChrysler AG have agreed to a 10% cut in pay as part of a cost-cutting deal the company has signed with its German workers. The deal follows labor protests and threats from the auto-maker that it was going to cancel production of its Mercedes C-class cars at its main plant in Sindelfingen, Germany. German Chancellor Gerhard Schroeder praised the deal as a sign of Germany's tradition of successful labor negotiation.

Contracts & orders received, Contracts & orders let, Contracts, Contract agreement

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Daimler's chief sees union accord on cutting costs

Article Abstract:

Thousands of Mercedes-Benz employees in Baden-Wuerttemberg, Germany, walk off the job to protest company cost-cutting efforts that would see their hours extended and their rest breaks eliminated. Nonetheless, Juergen Schrempp, chief executive officer of parent company DaimlerChrysler AG, is confident that the auto maker will be able to reach an effective cost-saving agreement with workers.

Executive changes & profiles, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Officials and employees, Negotiation, mediation and arbitration, Demonstrations and protests, Daimler-Benz AG, Automobile industry workers, Automotive industry workers, Subsidiaries, divisions and units, Schrempp, Jurgen E.

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Daimler is ordered to pay investors for Chrysler valuation

Article Abstract:

DaimlerChrysler has been ordered by a German court to reimburse a group of shareholders for money lost as a result of Daimler's 1998 merger with Chrysler.

Legal issues & crime, Securities issued, listed, Legal/Government Regulation, Company legal issue, Cases, Acquisitions and mergers, Company investment, Investments, Stockholders, Securities, Company securities

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