Chrysler planning a two week shutdown

Chrysler planning a two week shutdown

Chrysler has announced that they would close down the operations of the company in the USA for two weeks in July.

They would ask their employees to take vacation time during the weeks beginning July 7 and July 14.

The aim is to cut cost as they are struggling to compete against the Japanese automakers in the domestic market.

Dennis Virag, president of Automotive Consulting Group in Ann Arbor, Michigan spoke about this announcement: “This is a drastic cost-cutting step. Having the shutdown will be favorable to Chrysler’s cash flow, but it’s a drop in the bucket compared to what is required to stabilize Chrysler’s financial footing.”