Chrysler Will Offer Union Workers Up To $100K To Leave

DaimlerChrysler AG's Chrysler Group will offer select hourly employees up to $100,000 to leave the company as part of a restructuring plan that calls for shedding 11,000 factory jobs to help restore profits by 2008.

Chrysler will offer union workers two options: an early retirement package for those who meet certain eligibility requirements and a cash buyout for those not eligible to retire, according to a document detailing the program that was obtained by The Detroit News.

The offers will be targeted at employees working at factories in the United States that will be affected by Chrysler's plan to cut 400,000 units of production as part of its restructuring.


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MercBasher - 2/27/2007 5:15:08 PM

+4 Boost

Will the employees be paid in surplus DCX vehicles or in cash?

S4cabriofoxone - 2/27/2007 5:30:07 PM

+2 Boost

LOL the former, probably. And just as they leave the factory, the surplus vehicles' values will go down 50%.

truecarlover - 2/28/2007 1:55:59 PM

+1 Boost

Speaking of which - how do they plan to get rid of all those unsold vehicles. I could be wrong but something tells me that no matter how much they discount those vehicles there will still be some that are unsold.
That said - this is all the result of bad management. Have the domestic companies learned anything yet?
Still though - it's sad to see people lose their jobs. I'm sure not all will want to really retire...well maybe if they are will to give up some of their union benefits they can go work for some of the Japanese brands.

ryaajus - 2/28/2007 8:55:52 AM

+1 Boost

No....more like 20-28 an hr

sold2early - 2/28/2007 8:13:00 AM

+1 Boost

I wish my employer would pay me that much to leave! So much for "Justification for higher education".