Daimler said it had incurred 687 million euros in restructuring costs to retool its global production network of factories producing Mercedes-Benz cars.
The company is seeking 2 billion euros in annual savings through staff cuts, which is equivalent to more than 20,000 jobs, Germany's Handelsblatt newspaper reported on Friday.
Daimler had previously said it is seeking to save more than 1.4 billion euros from annual staff costs.
Daimler is reviewing whether to sell its plant in Iracemapolis, Brazil, Handelsblatt said, citing company sources, and added that an extension of its factory in Kekskemet, Hungary, was unlikely to see the light of day.
The carmaker is also reviewing its portfolio of niche cars, like the coupe and convertible variants of its C-Class and E-Class, as well as the compact B-Class, Handelsblatt reported.
Daimler declined to comment on the details of potential cuts.
This story has been published from a wire agency feed without modifications to the text.