Chrysler plans to cut 25% salaried jobs
Chrysler LLC, now in merger talks with General Motors, will eliminate 25 per cent of its salaried workforce, or about 4,300 jobs, starting next month to help trim costs as sales slump.
The cuts will be completed by year’s end, the Auburn Hills, Michigan based company said on Sunday in an e-mailed statement. More “organisational and restructuring” changes are coming, Chrysler said, without giving details.
Sunday’s retrenchment plan builds on payroll slashing moves this week by GM and Chrysler, whose 25 per cent US sales slide this year is the most among major automakers.
Chrysler is ending 1,825 jobs at two sport-utility vehicle plants, while GM said it would chop more than the 5,000 salaried jobs already targeted.
“Chrysler and General Motors have to do whatever is possible to stem the outflow of cash from the organization,” said Dennis Virag, president of Automotive Consulting Group in Ann Arbor, Michigan. “It’s not surprising that drastic actions are being taken because these are drastic times.”
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The cuts will be completed by year’s end, the Auburn Hills, Michigan based company said on Sunday in an e-mailed statement. More “organisational and restructuring” changes are coming, Chrysler said, without giving details.
Sunday’s retrenchment plan builds on payroll slashing moves this week by GM and Chrysler, whose 25 per cent US sales slide this year is the most among major automakers.
Chrysler is ending 1,825 jobs at two sport-utility vehicle plants, while GM said it would chop more than the 5,000 salaried jobs already targeted.
“Chrysler and General Motors have to do whatever is possible to stem the outflow of cash from the organization,” said Dennis Virag, president of Automotive Consulting Group in Ann Arbor, Michigan. “It’s not surprising that drastic actions are being taken because these are drastic times.”
To read the full article, click here..
To read the ePaper, visit: http://e.mydigitalfc.com
Labels: Auburn Hills, automakers, Automotive Consulting Group, Chrysler LLC, e-mailed statement, General Motors, Michigan, payroll, salaried jobs, sales slump, vehicle plants
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