Chrysler plans two-week July shutdown

[NoGOPZone]

Source: Reuters via Yahoo! News

Chrysler LLC said on Thursday it would shut all but its most essential operations worldwide for two weeks in July, a first for the struggling No. 3 U.S. automaker as it attempts to cut costs and preserve cash.

Chrysler, which is in a restructuring that includes trimming some vehicle lines and offering buyouts to its 44,000 U.S. hourly workers, lost $1.6 billion in 2007.

The automaker has been accelerating its restructuring efforts since Cerberus Capital Management LP acquired a nearly 80 percent stake from Daimler AG (DAIGn.DE) last summer.





Read more: http://news.yahoo.com/s/nm/20080313/bs_nm/chrysler_shutdown_dc

[Fenris]

1. Not unusual. GM and Ford have done it before, and will do it this year.

Idling typically is done in July because it is right before the next model year, giving the automaker time to change or upgrade the factory floor for the new models.

[Roland99]

2. Ayup. Ford's KTP and LAP here always shutdown each yr for maintenance/upgrades.

[MANative]

3. Auto makers aren't the only ones, either...

My brother has worked for Acushnet Company (Titleist) for nearly 20 years and his plant shuts down for at least one week, and usually two, every year since he's been there.

[NoGOPZone]

5. This is a worldwide shutdown

A first for Chrysler, which would make it unusual.

[NoGOPZone]

4. self delete