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| Chrysler plans further job cuts | Chrysler plans further job cuts |
| (30 minutes later) | |
| US car firm Chrysler is to cut about a quarter of its white collar workforce by the end of 2008, as it continues to cut costs. | |
| The firm employs some 18,500 white collar workers in total. | The firm employs some 18,500 white collar workers in total. |
| To achieve the reduction, the car firm said it would aim for voluntary departures in November. A number of temporary positions will also be axed. | To achieve the reduction, the car firm said it would aim for voluntary departures in November. A number of temporary positions will also be axed. |
| A day earlier the firm announced 1,825 manufacturing job cuts as the slowing economy hits demand. | |
| These are truly unimaginable times for our industry Robert Nardelli, chief executive, Chrysler | |
| On Thursday the firm said a factory in Newark will now close at the end of this year, a year earlier than anticipated, and one shift at Toledo North Assembly Plant will go. | On Thursday the firm said a factory in Newark will now close at the end of this year, a year earlier than anticipated, and one shift at Toledo North Assembly Plant will go. |
| Unimaginable times | |
| Chief executive Robert Nardelli said the firm was finding "new ways to operate". | Chief executive Robert Nardelli said the firm was finding "new ways to operate". |
| "These are truly unimaginable times for our industry," he said. "We continue to be in the most difficult economic period most of us can remember." | |
| He also said there would be further restructuring and organisational changes. | |
| The firm is to reduce all "discretionary and overhead expenses and reduce capital expenditures not connected to major product programs". | |
| "It's likely that every facility Chrysler has around the world will be affected by these reductions," Chrysler spokesman David Elshoff told Agence France Presse after Friday's news. | "It's likely that every facility Chrysler has around the world will be affected by these reductions," Chrysler spokesman David Elshoff told Agence France Presse after Friday's news. |
| The latest cuts "could represent up to 5,000" positions, he added. | The latest cuts "could represent up to 5,000" positions, he added. |
| Separately the automotive firm's owner, Cerberus Capital Management, is considering combining or selling the firm to another car firm. | Separately the automotive firm's owner, Cerberus Capital Management, is considering combining or selling the firm to another car firm. |
| Demand braked | |
| Vehicle makers firms worldwide have been hit by slowing demand. | |
| Consumers have increasingly been turning to smaller and more energy efficient vehicles as the price of oil has risen. | |
| While oil prices have dropped sharply it is expected that demand will still continue to fall further. | |
| Car firms Renault, Volkswagen and Fiat have all been hit by slowing demand. |