Mercedes shoots for $5 billion profit by 2008

Reuters reports German press rumors that Dieter Zetsche’s plans for Mercedes include pumping operating profits to $5.1 billion by 2008. His plans for DaimlerChrysler, where he becomes chief executive in January, allegedly aim for group operating profit of more than $9 billion in 2008, vs $5.75 billion in 2004.

Parallel rumors in the German press about cost cuts at DaimlerChrysler predict up to 16,000 jobs cut over the next three years. The company declined to comment.