Ola Källenius, chairman of the board of management of Daimler AG and Mercedes-Benz AG, at the company's Capital Market Day 2019 in London Nov. 14. Image courtesy of Daimler
German automaker Daimler will cut jobs in management and non-management positions at its Mercedes-Benz cars division to save more than $1.1 billion in personnel costs as part of its new sustainable business strategy.