| Subject: |
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I knew this was coming!! |
| Name: |
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dodged200 |
| Date Posted: |
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Nov 1, 07 - 6:08 PM |
| IP Address: |
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76.240.197.111 |
| Message: |
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Chrysler to slash 12,000 jobs through 2008
November 1, 2007
By JUSTIN HYDE
FREE PRESS BUSINESS WRITER
Chrysler LLC said Thursday it would cut 12,000 jobs in North America through 2008, including up to 10,000 hourly workers, as it retrenches in the face of lower than expected demand for its cars and trucks.
In addition to the elimination of shifts at five assembly plants, including Jefferson North and Sterling Heights, Chrysler said it would also trim workers at other plants. The moves come on top of the 13,000 job cuts announced in February under its previous turnaround plan.
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Chrysler Chairman and Chief Executive Bob Nardelli said in a statement that the automaker was moving now because it expected industry sales to run “significantly lower” than the 17.2 million vehicles it had expected for 2007, with the weakness stretching into 2008.
“We have to move now to adjust the way our company looks and acts to reflect a smaller market,” said President and Vice Chairman Tom LaSorda in a statement. “That means a cost base that is right-sized and an appropriate level of plant utilization.”
The plan also calls for Chrysler to shed about 2,100 salaried and contract jobs before the end of the year. The automaker also announced it was culling four slow-selling models from its lineup over the 2008 model year: the Chrysler Pacifica, Crossfire, PT Cruiser convertible and the Dodge Magnum.
In addition to the shift cuts at Jefferson North and Sterling Heights, Chrysler will cut third shifts at Toledo North, Belvidere, Ill., and Brampton, Ontario. It will also cut a shift at the Mack Avenue Engine plant. Chrysler said it would consider adding a shift back to Jefferson North when it launches the next generation of its sport-utility vehicles in 2010.
The automaker reiterated that it had committed under the new UAW labor contract to spending more than $15 billion on products, plants and engineering through 2011. |
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