CHRYSLER KILLS JOBS, MODELS
November 2, 2007 -- Chrysler LLC, the automaker owned by private-equity firm Cerberus Capital Management LP, will almost double its planned job cuts to as many as 25,100 and scrap four models after losing $680 million last year.
The company will fire as many as 12,100 more employees through 2008, after saying in February that it would eliminate 13,000 positions over three years. The latest job reductions include plants in Michigan, Ohio, Illinois and Ontario.
Chrysler, the third-largest U.S.-based automaker, is dropping the PT Cruiser convertible, Crossfire car, Dodge Magnum wagon and Pacifica sport-utility vehicle.
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