Friday, October 24, 2008

Chrysler Update - Driving Off Into The Sunset?

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).

chrysler autos

No comments: