Friday February 09, 2007 
Friday February 09, 2007
Chrysler plans to cut 10000 jobs
DaimlerChrysler's Chrysler Group plans to cut more than 10,000 factory jobs and close at least two plants to return the U.S-based unit to profitability, the Detroit News reported. A secret restructuring plan dubbed "Project X" is focused on transforming Chrysler into a smaller, more efficient automaker with closer ties to its German parent company and the Mercedes-Benz luxury division, the newspaper said, citing sources. Chrysler spokesman Jason Vines called the report "speculation" and declined further comment.
Chrysler was dogged by inventory management problems in 2006, including its disclosure that it had been holding large numbers of vehicles in a "sales bank" before they had been ordered for showrooms. At one point last year, the No. 4 U.S. automaker had about 100,000 vehicles sitting in the sales bank of unassigned inventory that were not being disclosed in its monthly sales calls for analysts.
See also :
1. Chrysler struggles to shift unsold inventory
2. Chrysler plans production cut
3. DaimlerChrysler halts US auto plants
(2007-02-09 07:52:01 SGT)
[Biz]
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