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Old 02-09-2007, 09:37 AM   #1
NYCshopper
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Default Chrysler set to cut 1,000 salaried jobs

Chrysler set to cut 1,000 salaried jobs

http://money.cnn.com/2007/02/09/news...jobs/index.htm

Quote:
Report: Chrysler set to cut 1,000 salaried jobs

Newspaper says the elimination of white-collar jobs part of major restructuring effort at auto manufacturer; announcement expected Wednesday.

NEW YORK (CNNMoney.com) -- The Chrysler Group expects to eliminate about 1,000 white-collar jobs as part of a major restructuring to be announced Wednesday, according to a published report.

The Detroit News reports that the cut of salaried staff, which is about 7 percent of the non-union work force there, will primarily come from Michigan.

The cuts come on top of an anticipated announcement of buyout and retirement packages intended to cut 10,000 U.S. factory workers. A cut that deep would represent about 20 percent of its union-represented work force in the United States.

The turnaround plan is expected to include plans to close two U.S. assembly lines as well.

Chrysler officials have refused to comment on their plans ahead of the Wednesday announcement by Chrysler CEO Tom LaSorda. The announcement will also include 2006 earnings report by Chrysler parent DaimlerChrysler (Charts) that will include another loss at the Chrysler Group.

Chrysler Group posted a loss of $1.5 billion in the third quarter, compared to a profit of $374 million a year earlier, and a fourth-quarter loss is virtually certain after it was forced to slash production due to a glut of unsold trucks at dealers and parking lots around Detroit.

Managers at Chrysler headquarters in Auburn Hills told the paper that their departmental budgets for this year have been recalled in anticipation of the downsizing.

This is not the first cut in salaried staff at the automaker, which lost its traditional No. 3 position in terms of U.S. sales to Toyota Motor (Charts) last year. The paper reports that the current 14,180 U.S. salaried employees is down from about 19,000 at the end of 2000, or a reduction of about 25 percent.

The cuts expected to be announced at Chrysler follow similar downsizings announced in 2005 and 2006 by General Motors (Charts) and Ford Motor (Charts), which were reporting losses on their core North American auto operations those years while Chrysler was making money.
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Old 02-14-2007, 09:42 AM   #2
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AUBURN HILLS, Michigan (Reuters) - Chrysler Group, the struggling U.S. arm of DaimlerChrysler AG, on Wednesday said it would cut 13,000 jobs or 16 percent of its work force in a bid to return to profitability by 2008.

The job cuts in the long-awaited restructuring plan went deeper than analysts had expected.

DaimlerChrysler also said it was "looking into further strategic options" for Chrysler as the automaker cuts capacity and shifts its focus toward more fuel-efficient vehicles.

DaimlerChrysler, the No. 5 automaker by global sales, said it would book a restructuring charge of up to $1.3 billion for the Chrysler cost-cutting.

Chrysler said 11,000 of the jobs targeted for elimination were hourly workers represented by its unions, including 9,000 in the United States and 2,000 in Canada.
I've had hopes for Chrysler ever since they became the only US manufacturer that builds interesting vehicles (300C, Magnum, Charger, all the SRT versions). It's a shame.
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Old 02-14-2007, 07:53 PM   #3
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Chrysler, here's a tip for you:

Keep on churning out cars that all look like each other, and specifically mimic the looks of your trucks, and soon you won't have to deal with laying off 13,000 people... cuz you'll be out of business!



Jesus Christ, how the hell can a company that had the most innovative designs just a few years ago, now churn out the same damn boring vehicle rebadged 10 ways - and they still all look the same, and all with cheap ass looking interiors?!?
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Old 02-14-2007, 09:22 PM   #4
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Originally Posted by Hazdaz View Post
Jesus Christ, how the hell can a company that had the most innovative designs just a few years ago, now churn out the same damn boring vehicle rebadged 10 ways - and they still all look the same, and all with cheap ass looking interiors?!?
one hit wonder?
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Old 02-15-2007, 06:54 AM   #5
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Coming soon to a sale rack near you...Chrysler!
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