DaimlerChrysler HQ 250 pr photo

DaimlerChrysler's supervisory board overruled the objections of union board members to approve a wide-ranging cost-cutting plan that is rumored to include cutting another 7,500 jobs on top of the 8,500 jobs already on the block.

Reuters quote a company spokesman as saying, "The board has approved the plan, and it will be implemented," leaving little doubt of the company's resolve.

Union members of the board accused the company of boosting profits on the backs of the workers, but perhaps the worst is yet to come - Dieter Zetsche, who cut 40,000 jobs during his tenure at Chrysler, will become chief executive of the Mercedes Car Group at the end of the year.

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