September 25, 2012 / 9:43 AM / in 6 years

Daimler: no plans to cut hours at largest car plant

A shareholder arrives to a Daimler AG annual shareholder meeting in Berlin, April 4, 2012. REUTERS/Fabrizio Bensch

STUTTGART, Germany (Reuters) - Daimler (DAIGn.DE) has no plans to cut working hours at its largest car plant Sindelfingen, a spokesman for the German luxury carmaker said on Tuesday.

A person familiar with the situation had told Reuters on Monday Daimler was planning to cut production at Sindelfingen, as deteriorating markets in Europe and China hit sales of its Mercedes-Benz cars unit.

Labor representatives and management are currently negotiating shift plans, the person told Reuters.

After warning last week on profits at Mercedes, Daimler said it would come up with a cost savings program, which sources had told Reuters would total over 1 billion euros ($1.3 billion) but not include job cuts.

Daimler’s CEO Dieter Zetsche said at the time the group was gearing up for a “challenging environment” in Europe and China.

Reporting by Hendrik Sackmann; writing by Ludwig Burger

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