Chrysler Cutting White-Collar Jobs
-- More cuts in the auto industry. Chrysler is announcing Friday it will cut 25% of its white-collar workforce.
As many as five-thousand jobs could be eliminated, including contract workers. The cuts are in addition to those previously announced and will be done through involuntary layoffs and voluntary retirements and buyouts.
"Bottom line is we have to rightsize the organization to fit with what's going on," Vice President and Chairman Tom LaSorda told WWJ's Jeff Gilbert Friday morning.
LaSorda says the automaker's forecast doesn't show a recovery in 2009.
"I don't think it can go much lower, of course we said that about six months ago, but who knows," LaSorda said while talking about annual sales that were forecast for 15.5 vehicles, but were revised to about 12 million.
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