July 21, 2006

DaimlerChrysler implements more efficient management structure

Stuttgart, Germany – DaimlerChrysler can begin with the implementation of its New Management Model (NMM) on August 1 as planned, which is aimed at the reduction of redundant capacities and minimization of complexity within the company. The implementation follows an agreement on a settlement of interest from the Management and Group Works Council of DaimlerChrysler AG.

The integration of administrative functions under the NMM will make reporting paths and decision processes shorter, faster and leaner, leading to sustained improvements in DaimlerChrysler’s competitive ability.

Under the NMM, all headcount reductions will be undertaken on a voluntary basis, including such arrangements as voluntary separation agreements with severance packages, early retirement, and part-time early retirement agreements.

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