Chrysler Group to cut 1,000 salaried jobs

Chrysler Group has announced that they are planning to start their turnaround plan with a job cut of 1,000 salaried workers by the end of June this year.

The company said that the eligible white-collar workers would be offered buyouts and early retirement packages.

They aim to provide this offer to workers over age 53 with 10 years or more of seniority. The retirement plans would be offered to salaried workers over age 62.

Chrysler is aiming to turn profitable by 2008 and is aiming to cut its salaried work force by 2,000 jobs by 2008. They are also currently in talks with United Auto Workers on the terms of buyout offers for unionized workers.

The company is the fourth largest automaker in the United States in terms of U.S. sales in 2006. They have as per reports available 16,800 white-collar workers and 82,500 total employees.