The Private Equity Way: Cut - Cut - Cut
Wednesday, October 31st, 2007From the article: “Chrysler LLC is expected to slash at least 1,000 salaried workers, cut contract employees and trim manufacturing jobs in an effort to downsize payroll and production to match its shrinking U.S. market share.
People close to the company said Chrysler’s board Tuesday approved the job cuts and possible factory shift reductions in addition to dropping four vehicles from its product lineup.
The cuts are expected to be announced as soon as today as the newly independent automaker revamps its operations under the ownership of the private-equity firm Cerberus Capital Management. ”
Anyone care to speculate what the fourth vehicle will be? Will the Aspen join the PT, Pacifica, and Magnum?
Chrysler to cut deeper: 1,000 managers targeted - detnews.com







