Chrysler Plans Two-Week Shutdown In July – 03/14/08
Chrysler has announced plans to shut down all worldwide operations for two weeks at the end of July. The company is in the process of restructuring and the July shut down is intended to help the company with efficiency. Chrysler’s shutdown decision is in line with trends of other U.S. automakers, both GM and Ford plan similar shut downs in July. Chrysler lost $1.6 billion in 2007 and has offered buyout to 44,000 employees.