Chrysler plans to cut 10,000 jobs
Report: U.S. automaker to forge closer ties with Mercedes
Updated: 4:46 p.m. ET Feb 5, 2007
DETROIT - DaimlerChrysler AG's Chrysler Group plans to cut more than 10,000 factory jobs and close at least two plants to return the U.S-based unit to profitability, the Detroit News said on Monday.
A secret restructuring plan dubbed "Project X" is focused on transforming Chrysler into a smaller, more efficient automaker with closer ties to its German parent company and the Mercedes-Benz luxury division, the newspaper said, citing sources.
A restructuring plan for Chrysler is scheduled to be announced on February 14 in conjunction with fourth-quarter results for its parent company.
Blogger's Note: Maybe if they sold vehicles that got more than 15-20 mpg they'd be able to compete with companies like Toyota and Honda. I'm still waiting for a Chrysler 300 hybrid. :)
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