Chrysler to axe a quarter of its staff

Chrysler is to cut a quarter of its staff - up to 5000 jobs

By Tim Pollard

Motor Industry

24 October 2008 17:05

The credit crisis gripping the world's economy struck Chrysler again today – the car maker announced it would cut a quarter of its staff by the end of the year. Although exact figures haven't been issued yet, it looks like as many as 5000 jobs could be axed.

Analysts in Detroit are seeing today's announcement as a sign that the possible GM-Chrysler merger being discussed could come to fruition. Renault has also expressed an interest in parts of the Chrysler business.

Who'll be next? We're witnessing huge change in the auto industry. Click 'Add your comment' and tell us who the next casualty of the credit crunch will be

By Tim Pollard