Business & Finance
The possibility of job cuts was on the agenda as DaimlerChrysler's top executives met in Germany on ways to improve performance at their lagging US unit, The Wall Street Journal reported. A decision is expected by month's end. The German-US automaker reported a $2 billion operating loss in the second quarter and its Chrysler Group - as are Big Three rivals Ford and General Motors - is seeking concessions on plant closures, wages, and benefits in ongoing contract talks with the United Auto Workers Union. The current four-year pacts, which cover 300,000 workers and almost a half-million retirees and their spouses, expire Sept. 14. In a separate move, DaimlerChrysler and Beijing Automotive Industry Holding Co. announced a $1.1 billion deal to build luxury Mercedes sedans in China while restructuring their Beijing Jeep Corp., the oldest automotive joint venture in the country.