Buyouts net Chrysler nearly 5,000 job cuts - Dodge Nitro Forum
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post #1 of 1 (permalink) Old 11-26-2008, 04:54 PM Thread Starter
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Buyouts net Chrysler nearly 5,000 job cuts

11.26.08, 04:33 PM EST


Chrysler LLC says it expects minimal involuntary layoffs will be needed to reach its goal of cutting 25 percent of its salaried and contract work forces.

The deadline for white-collar workers to accept the company's buyout and early retirement offers is Wednesday.

Spokeswoman Shawn Morgan wouldn't say how many workers have taken the offers so far because they have until Sunday to change their minds. For those who take the offers, their last day at work will be Wednesday.

She said Chrysler may still have to make involuntary cuts to reach its goals.

"We anticipate it to be minimal," she said.

Chrysler announced last month it would slash about 5,000 white-collar and contract workers to deal with a continued downward spiral in U.S. auto sales.

Industry analysts said the cut is so large that it would affect the company's product development plans.

Workers were offered buyouts of up to $75,000, six months of health care and a $25,000 voucher toward the purchase of a new Chrysler vehicle.

LINK: Buyouts net Chrysler nearly 5,000 job cuts - Forbes.com

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