Chrysler Slashes 25% of White-Collar Workforce

To save money and ready itself for a possible sale, Chrysler and its owner Cerberus Capital will cut 5,000 white-collar workers

Chrysler Chairman and CEO Robert Nardelli pulled out the ax, telling employees in an e-mail on Oct. 24 that he will cut up to 5,000 white-collar jobs, or 25% of the workforce, with early retirement deals and buyout offers.

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