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News Link • Economy - Economics USA

Chrysler Confirms New Round Of Buyout Offers

• Wall Street Journal

DETROIT -- Chrysler Group LLC confirmed Saturday about 23,000 hourly workers will receive buyout offers as the auto maker continues trimming jobs amid planned plant closures and falling product demand.

Employees have until Nov. 13 to accept the offer, Chrysler said in a statement. Special programs are also being offered at factories that are being closed as part of the bankruptcy process. The dates for those programs vary.

Separation dates are at the discretion of the company.

The buyouts come as Chrysler prepares to reveal its five-year product plan to the public during a press conference at its Auburn Hills, Mich.-based headquarters Wednesday. Chief Executive Officer Sergio Marchionne is expected to address how Chrysler will survive while it attempts to deliver new products to the market.


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