Car Industry Faces Meltdown?

Car makers are unveiling drastic cutbacks as the collapse in the new car market accelerates.

Chrysler CEO Bob Nardelli has announced plans to slash Chrysler’s white-collar workforce by a quarter between now and the end of the year. Around 4500 jobs will be cut via voluntary redundancies and “buy outs”.

In an email to employees, Nardelli described the current economic climate as “truly unimaginable times for our industry“. Which, doesn’t sound good at all.

Chrysler also announced plans to close its SUV factory in Delaware a year early and cut a production shift at the Jeep plant in Toledo. Around 1800 jobs will be lost as a result.

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