Daimler Financial Services AG and Mercedes-Benz Bank AG are restructuring their business activities in Germany. The restructuring will be completed by the end of 2012. Headquarters of Daimler Financial Services will move from Berlin to Stuttgart and be co-located with the head office of Mercedes-Benz Bank.

As a result, all central functions within the financial-services business for the German market as well as the global business will operate under one roof. “With this strategic restructuring of Daimler Financial Services and Mercedes-Benz Bank in Germany we will achieve an important streamlining of our structures and processes and ensure a leading competitive position for our company in the long-term,” said Klaus Entenmann, Chairman of the Board of Management of Daimler Financial Services AG. The proximity to the Daimler Group’s headquarters is of strategic advantage to Daimler Financial Services. In addition, cost optimization in the amount of €50 million per year will be achieved in the mid-term.

Mercedes-Benz Bank, the German subsidiary company of Daimler Financial Services, will set up a new Service-Center by the end of 2012. In this location, operations for the automotive financial-services business will be consolidated which are currently located at eight business centers as well as in Mercedes-Benz Bank’s central office in Stuttgart.

The greater area of Berlin is the favorite location for the new Service-Center. “By concentrating our German locations we will bundle our know-how, simplify our processes and reduce our costs significantly. In addition we will extend service hours and improve availability for our dealers and customers,” said Peter Zieringer, Chairman of the Board of Management of Mercedes-Benz Bank AG. Processing of the direct banking business will continue to operate from Saarbrücken.

As a result of the concentration of locations the number of jobs at Daimler Financial Services and Mercedes-Benz Bank in Germany will decrease by 250 to 1.600 positions until the end of 2012. Daimler Financial Services and Mercedes-Benz Bank will offer fair conditions to all employees who are affected by the restructuring. To this end, negotiations will be started with the workers’ council.

After the consolidation of locations approximately 700 jobs will be located in Stuttgart. More than 550 jobs will be located at the new Service-Center in the greater area of Berlin. That is an increase of 150 jobs in that region. In a next step, the Service-Center will take over also European tasks. This will create approximately 150 additional jobs. As a result, Berlin will continue to be a major location for the financial-services division of Daimler in the future. 250 jobs will be located in Saarbrücken. A field force of about 100 consultants will continue to offer on-site support for dealers and customers across Germany. “With our decisions we are safeguarding sustainable jobs in Germany and ensuring a leading position for our company in the future,” said Entenmann.

Source: Daimler AG