Reuters is reporting today that despite opposition from German labor representatives, DaimlerChrysler's supervisory board has agreed to implement a new cost-cutting plan that may involve additional job cuts, on top of the 8,500 job cuts previously announced.

Although a company spokesman for DaimlerChrysler stated that "The board has approved the plan, and it will be implemented," no details of the cost cutting plan were specified.

While it may be true that DaimlerChrysler hasn't released specifics of the plan, that hasn't stopped the old rumor mill from churning.  Last week, Daimler's home-town newspaper, Stuttgarter Zeitung, reported that the board had voted to cut another 7,500 jobs at the group's vehicle manufacturing business by 2008, without citing a source.

The German newspaper further elaborated that of the planned 7,500 job cuts, 5,500 job cuts will come via voluntary reduncdancies at the Mercedes Car Group, and that the remaining 2,000 job cuts will come from the commercial vehicles division.

I'm not one that likes to spread gossip, but if these rumors turn out like the previous job cut rumors did, 7,500 employees are probably starting to get a little worried right about now.

We'll keep you posted if we hear anything new.

In the meantime, you can check out the full article over at Reuters by clicking here.