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AUTOMAKERS' NEWS * USA - Chrysler to cut deeper: 1,000 managers targeted
Factory shifts, contract workers to be reduced
Detroit,Mich,USA -The Detroit News, by Bill Vlasic -31 Oct 2007: -- Chrysler LLC is expected to slash at least 1,000 salaried workers, cut contract employees and trim manufacturing jobs in an effort to downsize payroll and production to match its shrinking U.S. market share... People close to the company said Chrysler's board Tuesday approved the job cuts and possible factory shift reductions in addition to dropping four vehicles from its product lineup... The cuts are expected to be announced as soon as today as the newly independent automaker revamps its operations under the ownership of the private-equity firm Cerberus Capital Management...
* Criminal probe into Delphi ends
Washington,DC,USA -The Detroit News (Detroit,Mich), by David Shepardson -October 31, 2007: -- The Justice Department is expected to drop a 2 1/2 -year criminal probe of several former executives of bankrupt auto supplier Delphi Corp., including former president and CEO JT Battenberg III... At least seven former Delphi managers were investigated as part of a criminal probe after Delphi admitted to accounting irregularities from 2000 to 2004 that made the failing parts supplier appear profitable. The Troy-based operation was spun off by General Motors Corp. in 1999, and slid into bankruptcy in 2005...
Labels: automakers' news
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