DaimlerChrysler AG denies new cost-cutting plan

DaimlerChrysler AG has denied a report in Focus Money magazine that it plans to save €1.5bn through an additional cost-cutting programme.

A spokeswoman has said that the company deny the report and added that such a report did not exist.

She said that DaimlerChrysler still plans to save $1bn at its Chrysler unit this year through previously announced cost cuts.