Chrysler offers details to job-cut plan

Chrysler offers details to job-cut plan
http://money.cnn.com/2007/02/23/news/companies/chrysler_cuts/index.htm?postversion=2007022318

NEW YORK (CNNMoney.com) -- DaimlerChrysler's Chrysler Group said Friday it
will offer buyout plans and early-retirement incentives to eligible
employees as part of its goal to cut 1,000 jobs by the end of June.

Salaried workers over age 53 with 10 or more years of seniority will receive
buyout offers effective June 30.

Early retirement packages will be offered to salaried workers over age 62
and effective as of the end of May, the automaker said. Incentives include
three months salary and either a $20,000 car voucher or a $20,000
contribution to the Retirement Health Care Account.

Younger workers and those with less seniority are not eligible for the
buyout offers.

The attrition program is the first action under a previously announced
turnaround plan that targets a total of 13,000 job cuts.

The job cuts represent 16 percent of the staff at the North American unit of
DaimlerChrysler, as it eliminates 9,000 U.S. factory workers and another
2,000 factory workers in Canada over the next three years. In addition,
2,000 salaried staff cuts will be spread over the next two years.