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AUBURN HILLS, Mich. (AP) - DaimlerChrysler AG on Monday announced it will cut 26,000 jobs over three years at its U.S.-based Chrysler division.
As part of the restructuring plan designed to pull Chrysler out of the red, the company announced it would cut about 20 percent of its North American work force. The plan also calls for six manufacturing plants to be idled through 2002. Chrysler said it expects a large part of the job-cutting to be done through retirement programs, achieved within the framework of existing union contracts. ``To be competitive, the Chrysler group needs to be a more nimble company,'' Chrysler group president and chief executive Dieter Zetsche said in a statement. ``Along with exciting products, this will establish a sound basis for future growth.'' Chrysler said the job cuts will include 19,000 hourly workers and 6,800 salaried employees. The job cuts will be through a combination of retirements, special programs, layoffs and attrition. Chrysler expects that three-quarters of the overall reduction will be achieved this year. ``Today's actions will help remove the uncertainty many of our employees have been feeling,'' Zetsche said. ``Part of this process may be painful for many people. However, to be truly competitive in today's auto industry environment, we need to be a more nimble company, more closely aligned with current and future market conditions.'' Zetsche said Chrysler will unveil its complete plan to turn around the loss-making division on Feb. 26. Chrysler posted a third-quarter loss of $512 million and has warned that its fourth-quarter loss could more than double that, given a soft U.S. auto market. On Saturday, Germany's Stuttgarter Zeitung newspaper reported the Chrysler unit could have lost as much as $1.3 billion in the fourth quarter. DaimlerChrysler has insisted it has no plans to spin off or sell Chrysler, which it bought in 1998 as part of its plan to extend the company's global reach. |
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Looks like DC is planning on selling 26,000 less vehicles, too. If management takes a big pay cut at this time, then I'll believe DC is serious about reviving Chrysler rather than plundering it.
------------------ Kenny 2000 Intense Blue Ram 1500 Quad Cab Sport SLT+, 5.9 L, Auto, 3.55 Sure Grip, Heavy Duty Service Group (big battery, transmission oil cooler, & heavy-duty engine cooling), MOPAR tonneau, MOPAR bedliner, MOPAR Ram mudflaps, MOPAR side moldings, Flowmaster 50-series SUV muffler with heat shield, Belltech rear sway bar, JBA silver ceramic coated headers, Quick D throttle body, K&N Gen II FIPK, MOPAR PCM, 180 degree thermostat, R/T Cam Package (cam & lifters), new valve springs & retainers, and new timing chain, and sometimes a full tank of premium gas. Did I mention it was INTENSE BLUE? |
#3
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You can bet the j@&-offs in Germany will still get a good nights sleep!
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Hang on to your Chrysler Corp. vehicles!!
------------------ 1988 Dodge Ram D100, 3.9 V-6, Throttle Body Fuel Injection, Chrysler A-998 Automatic Transmission, Chrysler 8.25 Rear with 3.54 gear, Hercules Step Bumper 1200#tongue/12000#pull, Reese Hitch 750#tongue/7500#pull, Hopkins "Quick Connect" Trailer Plug, Hopkins trailer circuit breaker, Kenwood AM/FM Stereo CD player, Pioneer 5 speaker system, Mohawk aluminum cap(painted to match truck) with custom installed PM red/yellow marker lights and PM third brake light, 2 sets of Custom Cut Floor Mats Red and Burgundy, Custom modified Lighted Cup holder/Console with control switch. 1999 Dodge Ram 2500 SLT Laramie 2x4, 5.9 V-8, Chrysler 46RE Automatic Transmission........more to come........ |
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