Daimler Financial Services (Daimler FS)
has announced a restructuring of its business activities in
Germany, with all the central functions for the German and global
businesses now operating under one roof.

With the restructuring, the captive’s
headquarters will be moved from Berlin to Stuttgart, where the
parent company is headquartered. Mercedes-Benz Bank, the German
subsidiary of Daimler FS, will set up a new service centre in
Berlin.

As a result of the restructuring, it is
expected that the number of staff will decrease by 250 to 1,600
employees.

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By GlobalData