Due to slipping sales and Chrysler’s lending shift to GMAC, Chrysler Financial says it will shed about 350 jobs. Chrysler Financial’s entire business model will also be restructured, resulting in the closure of the company’s customer service center near Kansas City.
Chrysler Financial will eliminate positions at all eight of its business centers, as well as at the company’s Farmington Hills headquarters. In all, Chrysler Financial will shed about 9 percent of its total workforce.
“While these were difficult decisions to make, they are necessary in light of our declining portfolio,” said Tom Gilman, Chairman and CEO — Chrysler Financial. “We have made every effort to limit the number of job losses and to ensure the affected employees are treated fairly.”
Chrysler Financial – held by Cerberus Capital Management – was dumped as the lending arm of Chrysler during the company’s time in bankruptcy. Despite being displaced by GMAC, Chrysler Financial still holds a $45 billion portfolio with operations in dealership insurance and retail financing.
07/01, 12:48 PM
posted by:
CADDY-V
I just read that Ford was down only 10.7% for the moth of June.
Does anyone now how any other car makers did?
07/01, 12:50 PM
posted by:
orangecones
What the hell are you talking about caddy-v, totally unrelated to the article.
07/01, 12:56 PM
posted by:
CADDY-V
orange:
I know that. I was trying to see if anyone had some #’s for June sales.
07/01, 12:57 PM
posted by:
RaineMan
I’m gonna say this before he gets a chance to come in here and run his mouth.
NMOFGM: Didn’t you hear? GM has changed their slogan… “GM – A Government Entity”
07/01, 2:00 PM
posted by:
moparsalesman1
“GM” greatest car ever made! This car comes with a built in pocket p***y as gets you off as you drive!
When you turn on your car does it return the favor?
07/01, 2:26 PM
posted by:
KarLoveBoy88
I cant believe that Chrysler still has any employees. They are a sad excuse for a car company.
07/01, 3:46 PM
posted by:
Need more oil for GM
Chrysler has been all but written off by the buying public. Victims of the American Revolution.
Quality, relibility, dependibility and longevity. Only in a GM. An American Revolution