Chrysler Slash and Burn - 25% More Salaried Workers Dumped

Cut to the bone, literally. Is there anyone left to actual make cars at Chrysler these days?

Chrysler cutting salaried and extra workforce by 25%

The total reduction will be around 5,000

If anyone is not aware Chrysler has already done massive slash and burn layoffs. In 2007, Chrysler fired 13,000.

This is from February 2007:

The total number of lost U.S. auto industry jobs since 2005 to 285,000

And check this out! 20% Chrysler investment now worthless!

At the end of December 2007, Daimler’s 20-percent stake in Chrysler was valued at about $1.18 billion.

At the end of June, Daimler valued that investment at about $219.6 million.

Today, Daimler said the book value of that 20-percent stake is zero.

That’s right, zero.

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College education and job security

from: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aKCc6E5Ta1oY

"The workers targeted in the Chrysler announcement today include engineers, accountants and finance personnel who earn predetermined amounts. The cuts exclude hourly factory workers whose jobs are protected by union contracts"

So much for a college education giving you any kind of job security.

Also, big business keeps telling Congress there is a shortage of engineers. If so, why would a company so dependent on quality engineering, Chrysler, be dumping them?

One thing I know, I don't want to here Chrysler whining to Congress that there is a shortage of engineers.

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