Do Chrysler Lay-Offs Spread To Ford (F)
October 9, 2007 by Douglas A. McIntyreNewly private Chrysler believes that talks with the UAW may note yield enough savings to get the car company back on the right financial footing. So, the company is looking hard at lay-offs among non-union employees and temporary workers.
Bloomberg writes that Chrysler may cut 1,500 salaried and contract jobs because of falling U.S. auto sales.
If anything, Ford (F) is in a position which is worse than Chrysler’s. Its sales have been falling fast, off over 20% last month. And, there is no reason to believe that, between its aged model line and a faltering economy, that the country’s second largest car maker does not need to make significant cuts.
It is a question of when and not if.
Douglas A. McIntyre
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