AUBURN HILLS, Mich. (Reuters) - DaimlerChrysler AG's Chrysler group on Monday announced plans to cut 26,000 jobs over three years and close or cut production at 13 plants to staunch its financial bleeding.
The massive job cuts, amounting to 20 percent of Chrysler's global work force, are part of a wider plan the automaker will unveil on Feb. 26 to reverse course from losses expected to total around $1.75 billion for the second half of 2000.
"The markets are ... deteriorating and our company's performance even more so," Chrysler Chief Executive Dieter Zetsche told a news conference at Chrysler headquarters.
Zetsche, dispatched from Germany in November to rescue the ailing Chrysler, said about 75 percent of the job cuts would come this year, most through retirement and attrition.
Of the 26,000 jobs to be cut, all but 3,100 will come from Chrysler's workforce in the United States and Canada. About 2,600 will come from closing Mexican plants, while 500 jobs will be eliminated in South America.
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The massive job cuts, amounting to 20 percent of Chrysler's global work force, are part of a wider plan the automaker will unveil on Feb. 26 to reverse course from losses expected to total around $1.75 billion for the second half of 2000.
"The markets are ... deteriorating and our company's performance even more so," Chrysler Chief Executive Dieter Zetsche told a news conference at Chrysler headquarters.
Zetsche, dispatched from Germany in November to rescue the ailing Chrysler, said about 75 percent of the job cuts would come this year, most through retirement and attrition.
Of the 26,000 jobs to be cut, all but 3,100 will come from Chrysler's workforce in the United States and Canada. About 2,600 will come from closing Mexican plants, while 500 jobs will be eliminated in South America.
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