Black Friday Begins: Chrysler Cuts 25% of White Collar Jobs [Text of Letter Below]
The Wall Street Journal [sub] reports that there’s blood on the carpet in Auburn Hills, as ChyrCo CEO “Boot ‘Em Bob” Nardelli lives up to his TTAC nic. The announcement came in the form of a Dear John letter. “Chief Executive Robert Nardelli said the cuts are necessary because of the deep downturn in the economy and the tightening credit situation, which are choking off auto sales. Mr. Nardelli said the company is facing the ‘most difficult economic period any of us can remember.'” (Bob was speaking professionally, of course.) So, let’;s count the carnage, shall we? One thousand white collar workers were terminated at the end of September. The new cuts are on top of those cuts, which should eliminate another five thousand non-unionized employees. “The employees whose jobs are being eliminated will leave the company payroll Dec. 31, Mr. Nardelli said in the letter. An unspecified number of the 5,000 employees will be offered early retirement or buyout packages. Others will be terminated involuntarily. Those affected will be notified between Oct. 24 and Nov. 5.” Will the last Chrysler employee please turn off the lights? Meanwhile, here’s Bob’s letter…
Redbarchetta on Oct 24, 2008
Menno that is an interesting theory and I would think it might be possible except for the bailout money from Uncle Sam. If they kill all their US production how on earth can the government justify giving them a penny. Or does the new GMC company get what both companies would have gotten individually and they just count GM US production in the total of both. Damn that makes your theory a lot more possible since our government can't really be trusted with our money.
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