St. Valentine's Day Massacre at Chrysler
February 05, 2007

The Detroit media has dubbed Feb. 14 as the St. Valentine’s Day Massacre at Chrysler Group.

Word is Chrysler will announce its restructuring plan on that day. The plan may cut as many as 10,000 jobs and close three plants. The announcement comes at DaimlerChrysler’s annual press briefing, typically held in its corporate home of Stuttgart, Germany, but hosted by Chrysler headquarters in Detroit this year.

DaimlerChrysler has been working on a restructuring plan for the Chrysler since October when Chrysler announced an operating loss of $1.5 billion.

No word on if Chrysler Chairman and CEO Tom LaSorda, who publicly admitted he moved too slowly in cutting production in line with slower sales, will be out of a job. Now is it clear if DaimlerChrysler, as rumored, is seriously considering a sell-off of its American arm.

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