Cut to the bone, literally. Is there anyone left to actual make cars at Chrysler these days?
The total reduction will be around 5,000
If anyone is not aware Chrysler has already done massive slash and burn layoffs. In 2007, Chrysler fired 13,000.
This is from February 2007:
The total number of lost U.S. auto industry jobs since 2005 to 285,000
And check this out! 20% Chrysler investment now worthless!
At the end of December 2007, Daimler’s 20-percent stake in Chrysler was valued at about $1.18 billion.
At the end of June, Daimler valued that investment at about $219.6 million.
Today, Daimler said the book value of that 20-percent stake is zero.
That’s right, zero.