Chrysler to Cut 25% of Workforce

Add Chrysler to the list of major corporations getting set to hack and slash their workforces, due to the economic downturn.

Chrysler LLC announced Friday that the company will cut 25% of its salaried workforce — more than 5,000 jobs.

Company CEO Bob Nardelli announced the cuts in a letter to employees, saying the automaker will make the reductions through a mix of voluntary buyouts, retirement packages and layoffs. Chrysler employs about 18,500 white-collar workers.

But even more people stand to lose their jobs with the company. Chrysler also said Friday it will cut about 25 percent of its contract employees.

Friday’s announcement came just one day after the company said it will cut 1,825 jobs by eliminating one shift at a Toledo, Ohio, Jeep plant and accelerating the closure of its sport utility vehicle factory in Newark, Del..

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