When are these guys going to get it? GM on the skids, Ford not much better. Now it's Chrysler's turn to slash jobs. It's announced it'll trim 13,000 jobs or 16% of its workforce. 11,000 of those will be hourly jobs - assembly line mainly - and, of those, 2,000 will be dropped in Canada.
After turning a profit in 2005, Chrysler said it lost $1.5-billion in 2006 on earnings of $7.3-billion.
Chrysler is in for its second restructuring of the decade. Some think its an attempt to streamline the automaker so Daimler-Benz can flog it.
For some reason the Big Three keep spurning the market, turning out muscle-cars when buyers are clamoring for fuel efficiency. It's the Detroit Disease - they can't seem to shake this idea that they, not the buying public, will define the automotive market. That's a mindset that will take them to their graves.
1 comment:
This is continuing bad news. I fear the news will only get worse for GM, Ford, and Chrysler if Kyoto is implemented. How will they be able to make the massive corporate shift that's required to be much more green than they are when then can't stop the red ink bleeding in the current environment?
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