The Chrysler Group outlined their long-expected plan for recovery today. The nuts and bolts are:
Financial Impact - Return to profitability by 2008
Employee Impact - 13,000 employee reduction; Newark Assembly Plant to be idled, shifts eliminated and total capacity reduced by 400,000 units
Redesigned business model for long-term competitiveness, including greater emphasis on fuel-efficient products, global growth and partnerships
Euro 2.3 billion ($3 billion) powertrain investment leads to more fuel- efficient line-up
DaimlerChrysler is looking into further strategic options with partners
Full story here.
ateixeira says:
11:00 AM, 02/14/07
They have to be more fuel efficient, many of their cars are at or near the bottom of their class now. Especially some of their trucks.