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Daimler wants to reduce the headcount at its Mercedes-Benz Cars premium division by 1,000 and will do so by offering a variety of buyout packages to staff, the German carmaker announced. A company spokesman has said that management and labor representatives have agreed to offer staff up to 50 years old the chance at voluntary redundancies.

Currently, there are 45,000 employees in Germany for the Mercedes-Benz car arm, which includes the Mercedes, Smart and Maybach brands. Reuters had reported that according to sources, Daimler was planning buyouts to reduce its headcount.

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Daimler plans to cut 1,000 jobs at Mercedes-Benz

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