Faced with a tough credit market, declining vehicle sales and the loss of Chrysler Group’s wholesale financing business to GMAC, Chrysler Financial cut nine percent of its 3,900-person staff yesterday. In addition, the company will consolidate retail credit acquisitions into the Auburn Hills Great Lakes business center and is closing its customer contact center in [...]
Chrysler Group LLC’s salaried workers get to breathe a sigh of relief: they won’t be forced to take a two-week unpaid furlough this summer. According to spokeswoman Shawn Morgan, they will still have a two-week break but it will be a paid vacation instead of a nearly four percent pay cut.
When Chrysler LLC was in [...]
Frank Klegon, Chrysler’s executive vice president for product development, says the company is not including additional workforce reductions in the viability plan to be submitted to the federal government next Tuesday.
Klegon’s comments came after the announcement of General Motors’ plan to trim an additional 10,000 people from its payroll. Klegon noted Chrysler had a major [...]
As of February 2, 2009, Chrysler is announcing another incentive program for retirement and special early retirement program, according to a missive forwarded to Allpar. The programs (IPR and SER for short) are based on “unprecedented conditions” and were approved by the UAW.
The incentive program includes a lump-sum payment equal to a pre-tax $50,000, and [...]
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 above [...]
United Auto Workers President Ron Gettelfinger announced the union will agree to suspend the Jobs Bank program and will allow Chrysler, Ford and General Motors to delay their payments to the Voluntary Employee Beneficiary Association (VEBA) that is due to assumer responsibility for retiree health care in 2010. The announcement came following an emergency meeting between Gettelfinger and the presidents and chairmen [...]
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 [...]
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