German carmaker Daimler announced Friday it would slash at least 10,000 jobs worldwide to help cut costs as it rolls out electric vehicles.

The Stuttgart-based maker of Mercedes-Benz said it aims to "cut thousands of jobs" worldwide by 2022 that would save €1.4 billion ($1.5 billion) in staff costs. The layoffs include eliminating 10% of management positions, amounting to some 1,100 jobs.

Read more: Tomorrow's transportation will be electric and shared

Daimler personnel chief Wilfried Porth later told reporters the reduction would be "in the five-digits."

The cull aims to divert resources to develop CO2 neutral vehicles that require "large investments," Daimler said in a statement.

"The automotive industry is in the middle of the biggest transformation in its history," Daimler said.

The company, which employs 304,000 people globally, wants to reduce vacant positions, expand opportunities for partial retirement and in Germany offer a severance package to reduce administrative positions.

Read more: Volkswagen's electric future

The iconic German automaker has been struggling with falling profits, hurt by expensive recalls linked to its diesel engines, softening demand amid a global slowdown and trade tensions, as well as a costly switch to electric vehicles.

Along with other manufacturers, Daimler is rushing to comply with tougher and costlier EU emissions rules that come into force next year.

The group's announcement comes after competitors also announced cost-reducing staff cuts over the next years.

Germany's Audi said earlier this week it plans to eliminate 9,500 jobs by 2025 to make itself more "lean and sustainable," saving €6 billion in costs. Volkswagen similarly announced 7,000 job cuts in March, as it plans to invests tens of billions of euros in electric vehicles.

US carmaker Ford in June said it would slash 12,000 jobs in Europe, 5,000 of them in Germany.

Germany's best cult cars Trabant 601 (1964) The Trabant was to the East what the VW Beetle was to the West - a vehicle for the masses. It was cheap to produce, with an outer body made of hard plastic. The car's moment in the spotlight came with the fall of the Berlin wall, as citizens of the DDR spilled over the newly open East-West border in their "Trabis." There are still some 33,000 Trabants roaming the streets of Germany today.

Germany's best cult cars VW Beetle (1938) There's no stopping this faithful old model. With more than 21 million units having rolled off the production line, the VW Beetle is the most famous car in the world. From 1938 to 2003, its design never strayed far from the original - think "Herbie," or his German movie counterpart "Dudu."

Germany's best cult cars VW T1 (1950) The colorful VW Campervan, know as a "Bulli" in Germany, became a symbol of the hippie movement. Volkswagen wasn't initially too pleased about this, but it didn't do their sales any harm. More than 10 million VW buses have been sold since the model's introduction, of which 1.8 million were T1 models. They've also had an impressive film career - although mostly in supporting roles.

Germany's best cult cars Messerschmitt Cabin Scooter (1953) With three wheels and an aerodynamic body, it should come as no surprise that Messerschmitt was originally an aircraft manufacturer. After the Second World War, with production at a stand-still, the company agreed to work with engineer Fritz Fend on his "Flitzer" car model. It was a short-lived partnership - in 1956 Messerschmitt went back to aircraft production.

Germany's best cult cars Mercedes 300 SL (1954) This car was nicknamed the "Gullwing," thanks to its wing-like doors. The 300 SL Silver Arrows racing car earned Mercedes-Benz a surprise comeback on the motorsport scene. After wins at the 24 Hours of Le Mans and Carrera Panamericana racing events, a street version went into production.

Germany's best cult cars BMW Isetta (1955) It may not be speedy, but the BMW Isetta was still a financial success story for BMW between 1955 and 1962. Cheap and practical, this microvehicle with a motorcycle engine was known as a "bubble car." It opened at the front, just like a fridge.

Germany's best cult cars Goggomobil (1955) Another microcar with cult status is the Hans Glas "Goggo," named after the owner's grandson. Unlike other mini vehicles that had come before it, the Goggo could hold up to four people - although, given the car's 1.6-meter length, it was a bit of a squeeze. One of the car's key selling points was that it was so compact you only needed a motorcycle license to drive it.

Germany's best cult cars Porsche 911 (1963) With more than half a century of production behind it, the 911 is among the longest existing models in automobile history. In all its reincarnations, the trademark Porsche model has retained its most memorable features. With its striking headlights and its steep-sloped rear, the 911 is instantly recognizable.

Germany's best cult cars Mercedes-Benz 600 (1964) An in-car telephone, air conditioning and a freezer compartment were just some features of the German luxury sedan of the 60s and 70s. It attracted an endless list of celebrity owners, from the Pope to John Lennon. It was a little too pricey for the German government's liking, but they did rent one for special occasions, such as the 1965 state visit of Queen Elizabeth II.

Germany's best cult cars Opel Kadett B (1965) According to a song by German punk band WIZO: "Whether limousine, estate or coupé - the coolest car is a Kadett B." It seems 2.7 million customers agreed, making this one of Opel's most successful models. In the early 70s, Opel used the advertising slogan "Das Auto" for the Kadett B - long before their rivals at Volkswagen recycled the phrase.

Germany's best cult cars Wartburg 353 (1966) The Wartburg, which takes its name from a castle in the car's home town of Eisenach, was largely produced for the export market. The cheap vehicles found some success in countries such as Hungary and Great Britain. Back in West Germany, however, demand was low - owning an East German car would have been quite the political statement.

Germany's best cult cars NSU Ro 80 (1967) When NSU presented the Ro 80, rival manufacturers were watching closely. The car's twin-rotor Wankel engine, which was named after its inventor Felix Wankel, earned it the title "Car of the Year 1967." Unfortunately the technology wasn't quite ready, and NSU began replacing the motors as a precautionary measure. This unsettled potential customers and the car ultimately flopped.

Germany's best cult cars Mercedes Benz /8 "Stroke Eight" (1968) The conservative W 114/115 series sedan was hardly the fastest Mercedes around, with a top speed of 130 km/h. That makes it perhaps all the more impressive that it was not uncommon to find a Stroke Eight with several million kilometers on the clock. The quality of the car earned Mercedes 1.9 million satisfied customers - and the Stroke Eight became a collector's item.

Germany's best cult cars Opel GT (1968) "Only flying is better," is how Opel advertised its answer to the American "muscle cars." Sweeping curves, supposedly reminiscent of a Coca-Cola bottle, and pop-up headlights completed the car's unique look. An affordable price tag meant the car also attracted attention in the United States.

Germany's best cult cars VW Type 181 (1969) Initially produced for the German army, VW marketed the Type 181 as a multipurpose leisure car for young people. It offered little in the way of comfort, but a retractable roof transformed this austere jeep into a convertible. The Type 181 was warmly received in the US, where it was known simply as "The Thing."

Germany's best cult cars Opel Manta (1970) What Opel intended as a middle-class sporty model quickly became a must-have item for young men. Cue countless jokes about Manta drivers and their modest IQs. Film producer Bernd Eichinger paid tribute to the car in his 1991 comedy "Manta Manta," which co-starred a young Til Schweiger.

Germany's best cult cars VW Golf (1974) In 1974, VW brought its first Golf model to market, billing it as the successor to the beloved Beetle. For a subcompact car, the Golf was surprisingly sporty and efficient - a big advantage following the 70s oil crisis. The car's success took even VW by surprise, and the convertible model, nicknamed the "Strawberry Basket," became a sought-after cult car.

Germany's best cult cars Audi quattro (1980) "Quattro," Italian for four, refers to the car's four-wheel drive element. This unique coupé caused quite a stir upon its release. Four years later, Audi brought out the high-performance Quattro Sport (pictured). Only 220 units were produced, making it a real collector's item. More than 11,000 units of the original version, known as the "Urquattro," were made. Author: Melinda Reitz (rs), Silke Wünsch



cw/rt (AFP, dpa, Reuters)

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