There is an update to my earlier update on Chrysler's plant shutdowns and layoffs. Seems Chrysler is more than doubling the number of full-time workers getting laid off - the number is 5,000, or a quarter of Chrysler's full-time workforce.
This doesn't even tell the full story; the company has a very large number of contract employees. Chrysler has mentioned a quarter of them will also be let go.... but it doesn't need to specify the number of contractors let go, so there's probably a lot of blood-letting there.
What does all this point to? Chrysler putting itself up for sale, or something else equally drastic. Or, only selling a much smaller sub-set of their current auto lines (eg: selling off Jeep). Wow. I wonder if this will be another car company from a developing market (think Tata buying Land Rover and Jaguar), or time for the Private Equity firms to get back into action.
Check out the page on Chrysler in RightAutos, a Kosmix site. (Ankur Jain is the product manager).
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