Major cuts at Chrysler

Chrysler LLC CEO Robert Nardelli announced Friday that it will cut 25 per cent of its salaried work force starting next month, and the automaker warned that it will make more restructuring moves in the near future. Chrysler, which has about 18,500 white-collar workers, also will cut a quarter of its contract employees — those who work for other companies under contract with the automaker. About 5,000 workers will lose their jobs. This is the toughest time in history for US Automakers.