DaimlerChrysler-cars.jpg” width=”200″ height=”94″ align=”right” vspace=”10″ hspace=”10″ border=”1″>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.

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

regional report: North America (download)

automotive components: Market prospects to 2005