The Mercedes maker wants to save 1 billion euros - about 1.1 billion dollars - by the end of 2022.

Among those to go will be around 10% of management positions.

The move comes as tougher emissions rules kick in.

Daimler expects them to sap profits next year and in 2021.

They will require it to sell more electric vehicles - something many automakers are struggling to do at a profit.

Then add trade tensions and Brexit.

The German firm says those two factors could depress returns by up to 1%.

Investors didn't like what they heard.

Daimler shares were down over 3% by early afternoon Thursday.

That made them the biggest decliner on Germany's DAX index.