Ending days of speculation, Chrysler said Thursday, November 1, that it will
slash 8,500 to 10,000 hourly jobs before the end of 2008 and cut four vehicles
from its lineup as it restructures under the ownership of Cerberus Capital
Management.
Another 1,000 salaried jobs also are being cut along with about 37 percent of
its contractors, the company said. Chrysler will also eliminate hourly and
salaried overtime.
The automaker will drop shifts at five North American plants and will drop
from its model lineup the Dodge Magnum, the Chrysler PT Cruiser convertible, the
Chrysler Pacifica crossover and the Chrysler Crossfire convertible.
Meanwhile, Chrysler said it will add two all-new products to its portfolio:
the Dodge Journey crossover and Dodge Challenger coupe, along with two new
hybrid models—the Chrysler Aspen and Dodge Durango SUVs.
“The market situation has changed dramatically in the eight months since
Chrysler established the Recovery and Transformation Plan as its blueprint,”
Chrysler CEO Bob Nardelli said in a statement.
Filed by Bradford Wernle of Automotive News, a sister publication of
Workforce Management. To comment, e-mail editors@workforce.com.
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