Chrysler plans two-week July shutdown - Truckers' Trucking Forum | Message Board

Cybergal · **^ Top** #1 03.13.2008

Chrysler plans two-week July shutdown
3/13/08

Quote:

DETROIT (Reuters) - Chrysler LLC said on Thursday it would shut all but its most essential operations worldwide for two weeks in July, a first for the struggling No. 3 U.S. automaker as it attempts to cut costs and preserve cash.
Chrysler, which is in a restructuring that includes trimming some vehicle lines and offering buyouts to its 44,000 U.S. hourly workers, lost $1.6 billion in 2007.
The automaker has been accelerating its restructuring efforts since Cerberus Capital Management LP acquired a nearly 80 percent stake from Daimler AG (DAIGn.DE) last summer.
The broad shutdown of Chrysler operations during the weeks of July 7 and July 14 was announced to employees in an e-mail from Chief Executive Bob Nardelli.
Nardelli said the move was needed to help Chrysler to create "efficiency across organizational lines and boost productivity."
Chrysler, General Motors Corp (GM.N) and Ford Motor Co (F.N) typically idle U.S. plants in early July for vacations and shut individual manufacturing operations at various times to retool when they have car and truck model changeovers.
The U.S. auto market has slumped by a wider margin than most analysts had anticipated last summer, when Cerberus completed its acquisition of its majority stake in Chrysler. The company has indicated that it is trying to step up its restructuring efforts in response.
more here....... http://news.yahoo.com/s/nm/20080313/...er_shutdown_dc

heyns57 · **^ Top** #2 03.19.2008

As the article states, automakers typically shut down for model change-over for a couple of weeks between July and September. In Michigan, we know the Big Three are going through tough times. However, making headlines about the usual summer shut-down seems alarmist to me.

d-man57 · **^ Top** #3 03.24.2008

The shutdown is a normal thing, the twist here is that they are forcing the employees to take part of their vacation time during this period, rather than drawing 95% of their pay thru unemployment.

Truckerjo · **^ Top** #4 03.25.2008

I worked for a engineering company that always gave us 2 weeks off during Christmas / New Years paid. When they ended up having financial troubles they did the same thing, if we wanted paid we had to take vocation pay.. Sucks butt can you blame them? economy is getting pretty bad and car manufacturers usually get hit hard.. Well one thing is for sure any CEO isn't going to loose any pay though

Thread Tools
Show Printable Version Email this Page
Display Modes	Rate This Thread
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode	Rate This Thread:

Similar Threads
Thread	Thread Starter	Trucker Forum	Replies	Last Post
4th of July plans?	blessedwith3boys	A Discussion About EVERYTHING	20	06.28.2008 09.32 AM
Shutdown by DOT	CJH1977	Experienced Truckers' Advice	46	04.14.2008 05.13 AM
Chrysler goes private	Baack	News - NON Trucking News	8	08.03.2007 10.00 PM
GM 'in talks' to buy Chrysler	Aussie	Car & Truck Talk	3	02.17.2007 01.14 AM

Truckers' Trucking Forum/Message Board - The Premiere Truck Driver Forum
Sponsored Links

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)