A Slimmer Daimler
Three weeks after becoming CEO of Daimler Benz, Germany's largest industrial company, Jurgen E. Schrempp pounced. Starting on July 1, he will downsize Daimler's corporate headquarters in Stuttgart radically, axing 200 of its 500 top executive jobs. Headquarters' role in the four operating divisions, including Mercedes-Benz, is likely to be reduced. Zurich-based ABB, often considered the model European company, has already made similar moves.
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