About
1,200 unionised workers at DaimlerChrysler’s Freightliner unit have agreed to
pay cuts of $2 an hour and other concessions as sales of the company’s heavy
trucks slow in North America, according to a report carried by Detroit News.
The report adds that non-unionised workers will also see pay cuts to the tune
of 5%.

Freightliner is coming under severe financial pressure as the US heavy-duty
truck market has turned down. The company is expected to post a loss of $1 billion
this year, according to industry analysts. Restructuring and plant closures
are expected to be announced by the company later this year.

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The company has already replaced senior US management with officials from DaimlerChrysler
AG’s Stuttgart, Germany headquarters.










To view related research reports, please follow
the links below:-

Automotive
regional report: North America (download)


World
automotive components: Market prospects to 2005


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