Ahead of the Bell: DaimlerChrysler |
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Mon, 05 Feb 2007 13:51
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NEW YORK (AFX) - Two Detroit newspapers reported Monday auto maker DaimlerChrysler AG's Chrysler division plans to cut 10,000 jobs and close three U.S. factories as part of a plan to shrink and become nimbler.The Detroit Free Press and Detroit News each reported that the struggling division on Feb. 14 will announce a cost-savings plan to help combat sliding sales and bloated costs.The Detroit News said Chrysler, which lost $1.48 billion in the third quarter, dubbed the plan 'Project X.' Project X is designed to make Chrysler smaller, more efficient and more closely linked with its Stuttgart, Germany-based parent company's Mercedes segment. Chrysler, which makes cars and trucks under the Dodge, Jeep and Chrysler brand names, plans to close an engine plant in Detroit and an assembly plant in Newark, Del., the paper reported.The Detroit Free Press called the Newark, Del., plant 'doomed' because it's far from Detroit auto suppliers and the Durango sport utility vehicles the factory makes sell poorly. The Free Press said a factory in St. Louis that makes Dodge Ram pickup trucks and a stamping plant in Twinsburg, Ohio, are also in jeopardy.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Bell reassigns 24 employees for security 