Friday, October 24, 2008

Chrysler plans to cut 25% of salaried jobs
Layoffs, early retirements and buyouts will begin in November

Philip Nussel
Chrysler LLC said today it plans to cut 25 percent of its salaried work force beginning next month.
A statement sent to employees today did not specify how many jobs were being cut. But spokesman Michael Palese said that, according to the most recent figures available -- from September 2007 -- Chrysler has 18,529 salaried workers. That would mean 4,632 jobs.
The cuts will take the form of voluntary retirements, buyout programs and layoffs, Chrysler said. Chrysler said the buyout programs would include "enhanced benefits," including cash and new-vehicle vouchers.
The company also told employees it would "cut back on all discretionary and overhead expenses and reduce capital expenditures not connected to major product programs."
Chrysler, according to numerous reports, is in ...


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