Oct 30th, 2008 by RJ Menezes
In a attempt to reduce it’s overhead costs and get back into profitability, Chrysler LLC has recently announced that they are cutting around 25% of it’s salary-paid workforce. In a statement sent to employees the company did not specify how many jobs were being cut. Spokesman Michael Palese said that, according to the most recent figures available from September 2007, Chrysler has 18,529 salaried workers. That translates to 4,632 people losing their jobs.
The cuts will manifest in the form of voluntary retirements, employee buyout programs, and the dreaded lay-off. Chrysler has said it is throwing some sweet incentives towards the buyout program. These include so-called “enhanced benefits” along with new-car vouchers and cash.
The company also promised its employees that it would “cut back on all discretionary and overhead expenses and reduce capital expenditures not connected to major product programs.” This way it can assure that this uncomfortable situation is avoided in the future. Chrysler has yet to finalize their plans, so don’t be surprised if once it’s over the number is closer to 30%.
-Source: Automotive NewsÂ
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