DaimlerChrysler

Manufacturer of automobiles under Chrysler and Mercedes-Benz names.

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Global Headquarters
70546 Stuttgart
Germany
U.S. Headquarters:
DaimlerChrysler Corporation
Auburn Hills, MI 48326
Employees: 360,385
CEO: Jurgen Schrempp
Stock Symbol: DCX

Website: http://www.daimlerchrysler.com

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DaimlerChrysler is one of the world's leading automotive, transportation and services companies. Its passenger car brands include Maybach, Mercedes-Benz, Chrysler, Jeep, Dodge and smart. Commercial vehicles are produced under the Mercedes-Benz, Freightliner, Sterling, Western Star, Setra brands. It offers financial and other services through DaimlerChrysler Services.

The company is unique among auto makers because of its wide range of vehicles from small cars to sports cars and luxury sedans; and from versatile vans to heavy duty  trucks or comfortable coaches.

The company has global headquarters in Germany with U.S. headquarters in Michigan.

In 2006, company revenues were $151.6 billion Euros and net income of $3.2 billion Euros.

As of December 31, 2006, DaimlerChrysler employed a workforce of 360,385 people worldwide (2005: 382,724). Of this total, 166,617 were employed in Germany (2005: 182,060) and 94,792 in the United States (2005: 97,480).

In 2006, DaimlerChrysler sold 4.7 million vehicles, down from 4.6 million in 2005. The Mercedes Group sold 1,251,800 million vehicles, up from 1,216,800 in 2005. The Chrysler Group shipped 2.7 million vehicles in 2006, down from 2.8 million in 2005.

Due to poor sales at Chrysler in North America, the company announced an overhaul of the division:

- Overall, Chrysler Group will reduce the number of employees by 13,000, or approximately 16 percent.
- Hourly employment will be reduced by 11,000 over three years, with 9,000 in the U.S., and 2,000 in Canada (4,700 in the U.S. and 1,100 in Canada in 2007 alone).
- Of the U.S. hourly total, 4,000 employees will be impacted by assembly plant actions; 1,000 by reduced capacity in powertrain, stamping and other component operations, 1,000 by other actions including the potential sale of support functions and 3,000 through technology, efficiency and productivity.
- Salaried employment will be reduced by 2,000 over the next two years, with 1,000 each in 2007 and 2008.

A plant in Newark, DE will be idled by 2009 and production reduced by 400,000 vehicles.

The company was formed in 1998 with the merger of Chrysler Corporation and Daimler-Benz.

Benefits

DaimlerChrysler Corporation Professional-Administrative, Management and Executive employees in the U.S. may be eligible for the following:

Direct Pay
- Variable Compensation: profit sharing or performance bonus
- Vacation: between 5 and 25 days
- Vacation day buying or selling
- Holidays (16 in 2005), including Christmas Eve through New Year's day, Easter Weekend, and Thanksgiving Weekend

Health Care and Group Insurance
- Flexible Benefits Program ­ allows employees to create a package of benefits that fits their needs
- Health Care and Dependent Day Care Spending Accounts pre-tax salary deductions
- Hospital, Surgical, Medical and Prescription Drug: coverage options available for employees and eligible dependents, including: a Standard plan, Preferred Provider Organizations (PPO) or Health Maintenance Organizations (HMO).
- Vision, Dental and Hearing Aid coverage
- Disability Absence Plan
- Group Life Insurance and Accidental Death & Personal Loss Insurance provided
- Optional employee paid life, accident and auto/homeowners insurance programs
- Long Term Care Insurance coverage

Retirement and Saving Programs
- Contributions up to 40% of total compensation into corporate Savings Plans options, which include: pre-tax savings (401k), after-tax savings and a Retirement Health Care Account
- Matching contributions provided by the corporation: 50% of employee savings up to 6% of base salary - maximum match is 3.0%
- Savings directed into a broad range of investments, including: a Guaranteed Income Fund, Mutual Funds and many individual securities
- Corporate contributions to the Employee Managed Retirement Plan: at least 4% of base pay

Additional Benefits and Programs
- Resource and Referral Program
- Group Legal services
- Tuition Assistance
- Vehicle and part discounts
- Lease vehicles
- Vehicle financing via payroll deduction
- Special vehicle finance program for new or recent college graduates
- Discounts on special events (e.g. circus, Disney World, etc.)
- Relocation Assistance
- Jury Duty
- Military Encampment Pay
- Income Protection Program
- Flexible Work Arrangements
- Holiday Award

Updated February 16, 2007