As Americans deal with an economic slump, inflation, and an increasing unemployment rate… more bad news hit workers at Chrysler.
The privately held automaker plans to let go 1,000 salaried jobs by the end of September… in order for the company to survive the current market conditions.
The company said that in order to slash costs by $10 billion dollars… the job cuts will be achieved through phasing out white collar jobs, a combination of retirements and special programs.
Chrysler and larger rivals General Motors Corp and Ford Motor Co have been forced to expand restructuring plans based on US auto sales at a 15 year low.
Chrysler, also said that nearly after a year of being acquired by Cer-berus, it would close a minivan plant and eliminate one shift at a Dodge Ram truck plant in Missouri to cut excess capacity.
