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Chrysler Financial Canada announces restructuring

Tuesday, Nov 18, 2008 at 5:04 pm in Company News

Chrysler Financial Canada announced today it will restructure its operations to reduce costs and maximize efficiencies. Through this restructuring, the company will consolidate its current business operations in Calgary, Montreal and Windsor into its Toronto facility by May 1, 2009. “The last six months have been extremely difficult given the sudden turmoil in the financial markets and specifically the automotive industry,” Gino Cozza, President and CEO of Chrysler Financial Canada, said. “It was imperative for us to take a closer look at our business and identify solutions to be more efficient in an effort to weather these challenging times.”

The restructuring will take place over the next six months with the Western Business Centre in Calgary closing immediately. The Quebec Business Centre in Montreal and the current headquarters in Windsor are both scheduled to close at the end of April 2009.

“These were difficult decisions to make, especially during these tough economic times,” Cozza said. “We have a plan in place to provide a smooth transition for our employees and we will work very closely with our dealers and customers to ensure there is no disruption in service.”
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