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Chrysler Vice-Chairman and President Tom LaSorda says the company does not expect to lay off any salaried workers this month as enough employees opted to take the buyouts offered to meet the goals of the staff reduction program announced in October. “We had a very successful take rate from the programs. …,” LaSorda said. ”The take rates were [...]
So many of Chrysler’s salaried employees took voluntary buyout packages the company may not need to resort to involuntary separations. In late October, the company said it needed to cut about 5,000 of its 17,300 white-collar workers worldwide. To achieve this goal, every employee, regardless of seniority was eligible for a package that could include a lump-sum buyout offer, new car vouchers and [...]
In exchange for help from Uncle Sam, Cerberus Capital Management says it would be willing to give up any profit on a future sale of Chrysler LLC. In addition, Chrysler would expect the government to take a stake in the company in any bailout. The statements came in a speech delivered yesterday by Chrysler CEO [...]
Mercedes is going to move to a single shift on one of its two ML production lines in Alabama in January. It is also extending its summer closing from one week to four weeks. There will be no layoffs as such; workers have signed up for a buyout program instead. The ML is allegedly based [...]