LayoffBlog.com

April 30, 2009

Chrysler Files for Bankruptcy to Seal Fiat Accord

Filed under: auto,Chrysler — 7macaw @ 10:36 am
Tags: ,

Chrysler LLC, the automaker that survived a near-death experience in 1979, filed today for bankruptcy protection to streamline operations and shed debt in a reorganization that includes Italy’s Fiat SpA as a partner.

“Bankruptcy could do a lot of good for Chrysler” by allowing it to “shrink down to the size it needs” quickly, said Stephen Lubben, who teaches bankruptcy-law at Seton Hall University School of Law in Newark, New Jersey.

Source: Bloomberg

January 25, 2009

Chrysler jobs bank ends Monday

The controversial jobs bank — a program that allowed UAW workers to receive pay while not working — ends Monday at Chrysler, the union has told its members.

Chrysler told employees in a letter Friday that workers now in the jobs bank would be placed on “enhanced layoff,” effective Monday, until a final agreement has been reached with the UAW.

Source: Detroit Free Press

December 17, 2008

Chrysler shuts down all production for at least a month

According to CNNMoney: “Chrysler LLC announced late Wednesday that it is stopping all vehicle production in the United States for at least a month. All 30 of the carmaker’s plants will close after the last shift on Friday, and employees will not be asked to return to work before Jan. 19.”

Blog at WordPress.com.