Chrysler announces major job cuts

Chrysler announces major job cuts

Chrysler has announced that they are now going to cut as many as 10,000 jobs. These job cuts would take place over the next 14 months.

The company has also announced plans to slash production in the US market. They are also eliminating some of their less popular models in the market.

This job cut is going to affect more than one-fifth of Chrysler’s unionized work force.

Chrysler added that these new job cuts are in addition to their previously announced cut which affects 13000 workers in the company.

Chrysler Chief Executive Bob Nardelli said in a statement on these decisions: “The market situation has changed dramatically in … eight months.”

Chrysler is the fourth largest automaker in the USA and they are struggling to compete against the Japanese automakers who are increasingly becoming a major thread to domestic players.