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Chrysler Financial to close site, lay off 250
Chrysler Financial to close site, lay off 250
Posted on Monday, December 21st, 2009 at 2:32 PM EST.(Employee News)
Chrysler Financial, which lost its role as Chrysler’s captive money-lending arm earlier this year, announced plans today to close its collections office in Troy, Michigan, and lay off 250 workers, the Detroit Free Press reported.
The company informed the state of Michigan of the action, the paper said. Chrysler Financial told the state the action is the result of a reduction in the company’s business portfolio, the Free Press said.
“This action is part of the company’s continuing efforts to restructure its business operations to more effectively service and collect on its ongoing U.S. loan portfolio of nearly $23 billion and to assure repayment of its debt to its lenders and investors,” the company told the paper. (Detroit Free Press)
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Rick
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