Chrysler Cutting 25% of White Collar Employees

Chrysler is going through some very tough times.  Sales are down 25% this year and it looks likely that the automaker will either be swallowed up by GM or broken apart and auctioned off in pieces. Chrysler CEO Bob Nardelli recently sent an email to employees announcing that the company’s salaried and supplemental workforce will be reduced by 25% in an attempt to bring costs down.

The cuts will come in the form of early retirements combined with involuntary layoffs. Employees who take the early retirement package will receive cash and new vehicle vouchers, according to the email posted by Autoblog.
"These are truly unimaginable times for our industry," Nardelli says in the email, citing a combination of unstable commodity prices, the housing crisis and declining consumer confidence as reasons for the company’s hardships.