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18,500 current salaried workers minus 25% means 4,625 more jobs lost in the auto industry.


http://news.yahoo.com/s/ap/20081024/ap_on_bi_ge/chrysler_cuts_1

Chrysler to cut 25 pct. of salaried work force
1 hr 29 mins ago

DETROIT – Chrysler LLC says it will cut 25 percent of its salaried work force starting next month.

The company says the cuts are in addition to those previously announced and will be done through involuntary layoffs and voluntary retirements and buyouts.

Chrysler has about 18,500 white-collar workers.
 

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There's more from the folks at Automotive News if anyone is interested:

SOURCE: AutoNews.com

Chrysler to cut 25% of salaried workers, 4,300 jobs
Layoffs, early retirements and buyouts will begin in November

Chrissie Thompson and Philip Nussel
Automotive News | October 24, 2008 - 11:07 am EST

Chrysler LLC plans to cut its salaried workforce by 25 percent starting next month, the company said today.

A Chrysler statement did not identify how many jobs the automaker is eliminating, but spokesman Michael Palese said the cuts will total 25 percent of the company's salaried workforce.

Chrysler, according to its most recent figures, employs about 17,332 salaried workers, so the cuts could total more than 4,300 jobs.

The cuts will start with voluntary retirements and buyout programs, but will include layoffs by the end of the year. New buyout programs will include "enhanced benefits," a Chrysler statement said, including cash and new-vehicle vouchers.

The company also told employees it will "cut back on all discretionary and overhead expenses and reduce capital expenditures not connected to major product programs."

Chrysler owner Cerberus Capital Management LP, according to numerous reports, is in the midst of negotiating a possible sale to General Motors. It also has engaged in discussions with Nissan and Renault about a partnership arrangement, according to the reports.

'Truly unimaginable times'

CEO Bob Nardelli released a statement attributing the job cuts to the fastest contraction ever in auto industry sales.

"These are truly unimaginable times for our industry," Nardelli’s statement said. "We continue to be in the most difficult economic period most of us can remember.”

"The combination of troubled financial markets, difficult credit, volatile commodity prices, the housing crisis and declining consumer confidence continues to weigh on the economy. Never before have auto industry sales contracted at such a fast rate. Throughout this challenging time for our industry and our company, we have continued to face the realities of our business environment, and working as a team, we have been right-sizing our organization to become as competitive as possible."

PRESS RELEASE: Response to Query Regarding Additional Salaried Employee Workforce Reductions

Auburn Hills, Mich., Oct 24, 2008 - In a letter to employees, Chrysler LLC Chairman and CEO Bob Nardelli today announced that Chrysler would take additional salaried and supplemental workforce reductions beginning in November 2008.

This adjustment to workforce levels is in addition to previously announced actions, and will be accomplished through a combination of socially responsible programs, including voluntary retirements and – in order to broaden the eligible group – salaried employee buyouts. These new programs will feature enhanced benefits, including both cash and new-vehicle vouchers.

Details on the new voluntary programs will be made available to Chrysler salaried employees in the next two weeks (Oct. 24-Nov. 5, 2008). Involuntary separations will also take place by the end of December.

MORE HERE
 

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Next the state of MI is going to declare bankruptcy. It was on the news that the governor is already "starting to work on solutions, her swat team is coming out." Not really sure about this merger anymore.
 

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Next the state of MI is going to declare bankruptcy. It was on the news that the governor is already "starting to work on solutions, her swat team is coming out." Not really sure about this merger anymore.
What the hell has she been doing the past 5 years??

This round of layoffs is setting the stage for some gov't assistance for a GM/Chrysler merger in hopes of preserving some jobs.
 

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The Big Three do not have to renegotiate a contract to lower pay and benefits or fire salaried employees so they are getting hurt first. If we do go into a long recession the Big Three may have a hard time restructuring their operations to match lower sales because of the UAW contracts guaranteeing UAW members employment. The UAW seems very reluctant to give up anything which may force the Big Three into bankruptcy. During the Great Depression the Big Three were unencumbered by contracts guaranteeing employment and could quickly restructure their operations.
 

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Chrysler should start by firing nardelli. truly a worthless leader.


it is ironic that the only ones that can really be "fired" at chrysler and GM are the employees that got and keep their jobs based on merit and performance...
 

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This whole Chysler deal is sickening.

At least the Titanic had a band when it went down!
 

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Next the state of MI is going to declare bankruptcy. It was on the news that the governor is already "starting to work on solutions, her swat team is coming out." Not really sure about this merger anymore.
Oh....so THAT'S what she meant by "in two years, you'll be BLOWN AWAY!" :rolleyes: Gawd, I hate her.

And I'm really glad Chrysler responded to one of my applications with "we have decided not to fill the position." PHEW!
 

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Make no mistake the merger or sale of Chrysler to any existing automotive company will have terrible effects to the employees. Doesn't matter if it's GM, Renault, or whoever. I think if GM is forced to take them it will likely the worst case scenario for the employees. In the end thousands of American's will lose their job.
 

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Oh....so THAT'S what she meant by "in two years, you'll be BLOWN AWAY!" :rolleyes: Gawd, I hate her.

And I'm really glad Chrysler responded to one of my applications with "we have decided not to fill the position." PHEW!
she's a product of your country! yea-it's for her to step down. She isn't doing much. But I can't blame her 100% b/c of the whole countries economy.
 

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she's a product of your country! yea-it's for her to step down. She isn't doing much. But I can't blame her 100% b/c of the whole countries economy.
No, you'd rather Blame Canada...I see how it is...



(Why do you think we sent her there? :p: )
 

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"These are truly unimaginable times for our industry," Nardelli’s statement said -

Yes, it's a truly unimaginable time when Nardelli is given another oppurtunity to lead a company.;)
 

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Granholm is pathetic, instead of working with our homegrown companies she was in Japan sucking up to the Japanese to bring manufacturing to Michigan. She pisses me off, what a expletitive deleted! As for Chrysler, all I can say is, liberals are right, it doesn't matter where your car is made! Hah!
 

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When GM took over Daewoo they demanded that they make cuts before the sale went through so they didn't get the bad PR, GM still got the bad PR because it was made public what GM wanted done. I bet they learned their lesson. Its sad to see a once great company go through this.
 

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