Events Calendar
In This Section
Stocks zigzag after rally as the dollar rises
Job openings remain close to record-lows
Fed officials warn weak recovery won't spur jobs
Work force evolves, falters since 1982
Web sites offer help in finding scholarships
Refinance before low rates rise again
Microsoft to upgrade portal to boost Bing
Most Read Stories
Suitcase causes bomb scare at Akron bus terminal
Akron City Council OKs higher speed on I-77
Chapel Hill isn't rolling right along
Motorcyclist killed, wife injured in Stark County crash
Man says he was punched, robbed by 3 people in parking lot
New eateries expand menu of options
Patrick McManamon: Here's what the Browns should try the rest of the season
Louisville athlete commits to play for Boston College
Family found dead in Ohio home
Blogs:
Pets:
It Takes All Kinds
The Heldenfiles:
Tuesday Notebook
Patrick McManamon:
An interesting thought from a reader
Akron Zips:
Akron vs. Mount Union — Liveblog
Tribe Matters:
Indians announce spring dates
Cleveland Browns:
Mangini doesn't name a quarterback
Kent State Sports:
Flashes interested in another Cincinnati player
Cleveland Cavaliers:
Shaq: It’s All About Winning Championships
Buckeye Blogging:
Buckeyes Roll 100-60 / Season Outlook
Varsity Letters:
Report: Walsh baseball player commits
All Da King's Men:
More On The Fort Hood Jihadist
Blog of Mass Destruction:
Simply Incapable of Telling The Truth
Akron Law Café:
Health Care Financing Reform: (63) Commonwealth Fund Report on Primary Care
See Jane Style:
Muffle Your Muffler
Car Chase:
Clock Tender- Extending the Life of Collector Car Clocks
Let's Talk Real Estate:
Rumors: Akron Starbucks Closing
Ohio Travels with Betty:
Jack is looking for a trip to Southern Ohio the week of November 16.
Sound Check:
Aeromsith looking for new singer as Steven Tyler contemplates solo career
HRLite House:
Personal Rant – Why People Do Not Live in Northeast Ohio
Akron Gamer:
Video: 'Modern Warfare 2' hits the streets
By Associated Press
POSTED: 04:16 p.m. EDT, Nov 01, 2007
DETROIT: Chrysler LLC said Thursday it plans to cut up to 12,000 jobs, or up to 15 percent of its workforce, as part of an effort to slash costs and match slowing demand for some vehicles.
The automaker will cut 8,500 to 10,000 hourly jobs and 2,100 salaried jobs through 2008. The company already had begun cutting 1,100 temporary workers Wednesday. It will eliminate shifts at five North American assembly plants — including the third shift at the Toledo North assembly plant in Ohio — and cut four vehicle models from its lineup.
The cuts come in addition to the 13,000 layoffs Chrysler announced in February as part of a massive restructuring plan. Those cuts included 11,000 production jobs and 2,000 salaried jobs. The new round of cuts was expected to involve buyouts or early retirement packages similar to those made in February.
Chrysler officials said falling demand for vehicles in the U.S. market made the cuts necessary. Chrysler's sales were down 3 percent in the first nine months of this year, according to Autodata Corp., and the company said it expects sluggish sales to continue in 2008.
''The market situation has changed dramatically in the eight months since Chrysler established the Recovery and Transformation Plan as its blueprint,'' Bob Nardelli, Chrysler's chairman and chief executive, said in a statement.
Besides the shift at the Toledo plant, shifts will be cut at vehicle assembly plants in Belvidere, Ill.; Brampton, Ontario; Jefferson North in Detroit and a plant in Sterling Heights. Also, jobs will be cut at the company's Mack Avenue engine plant.
The announcement comes less than a week after Chrysler workers represented by the United Auto Workers union ratified a four-year contract with the automaker. The agreement passed by a slim margin after a six-hour strike. The Belvidere plant and Jefferson North were among the plants that voted against the agreement, while the Sterling Heights plant voted for it. All of the plants except the Toledo plant are covered by the contract, which promised $15 billion in investment at U.S. plants through 2011.
Chrysler became a private company in August when DaimlerChrysler AG, now called Daimler AG, sold 80.1 percent of Chrysler to the private equity firm Cerberus Capital Management LP. Nardelli said earlier this week that the company is focused on amassing cash for its turnaround effort.
The company announced it will eliminate four auto models through 2008, including the Dodge Magnum wagon, the convertible version of the Chrysler PT Cruiser, the Chrysler Pacifica crossover and the Chrysler Crossfire sports car.
In the same time frame, Chrysler plans to add the Dodge Journey crossover and Dodge Challenger sports car, along with two new hybrid models, the Chrysler Aspen and Dodge Durango.
''These actions reflect our new customer-driven philosophy and allow us to focus our resources on new, more profitable and appealing products,'' Jim Press, Chrysler's new vice chairman and president, said in a statement. ''These product actions are all in response to dealer requests.''
DETROIT: Chrysler LLC said Thursday it plans to cut up to 12,000 jobs, or up to 15 percent of its workforce, as part of an effort to slash costs and match slowing demand for some vehicles.
The automaker will cut 8,500 to 10,000 hourly jobs and 2,100 salaried jobs through 2008. The company already had begun cutting 1,100 temporary workers Wednesday. It will eliminate shifts at five North American assembly plants — including the third shift at the Toledo North assembly plant in Ohio — and cut four vehicle models from its lineup.
The cuts come in addition to the 13,000 layoffs Chrysler announced in February as part of a massive restructuring plan. Those cuts included 11,000 production jobs and 2,000 salaried jobs. The new round of cuts was expected to involve buyouts or early retirement packages similar to those made in February.
Chrysler officials said falling demand for vehicles in the U.S. market made the cuts necessary. Chrysler's sales were down 3 percent in the first nine months of this year, according to Autodata Corp., and the company said it expects sluggish sales to continue in 2008.
''The market situation has changed dramatically in the eight months since Chrysler established the Recovery and Transformation Plan as its blueprint,'' Bob Nardelli, Chrysler's chairman and chief executive, said in a statement.
Besides the shift at the Toledo plant, shifts will be cut at vehicle assembly plants in Belvidere, Ill.; Brampton, Ontario; Jefferson North in Detroit and a plant in Sterling Heights. Also, jobs will be cut at the company's Mack Avenue engine plant.
The announcement comes less than a week after Chrysler workers represented by the United Auto Workers union ratified a four-year contract with the automaker. The agreement passed by a slim margin after a six-hour strike. The Belvidere plant and Jefferson North were among the plants that voted against the agreement, while the Sterling Heights plant voted for it. All of the plants except the Toledo plant are covered by the contract, which promised $15 billion in investment at U.S. plants through 2011.
Chrysler became a private company in August when DaimlerChrysler AG, now called Daimler AG, sold 80.1 percent of Chrysler to the private equity firm Cerberus Capital Management LP. Nardelli said earlier this week that the company is focused on amassing cash for its turnaround effort.
The company announced it will eliminate four auto models through 2008, including the Dodge Magnum wagon, the convertible version of the Chrysler PT Cruiser, the Chrysler Pacifica crossover and the Chrysler Crossfire sports car.
In the same time frame, Chrysler plans to add the Dodge Journey crossover and Dodge Challenger sports car, along with two new hybrid models, the Chrysler Aspen and Dodge Durango.
''These actions reflect our new customer-driven philosophy and allow us to focus our resources on new, more profitable and appealing products,'' Jim Press, Chrysler's new vice chairman and president, said in a statement. ''These product actions are all in response to dealer requests.''
Comments
Click here to post your comments
