Chrysler Slashes 25% of White-Collar Workforce

Chrysler Chairman and CEO Robert Nardelli pulled out the ax, telling employees in an e-mail on Oct. 24 that he will cut up to 5,000 white-collar jobs, or 25% of the workforce, with early retirement deals and buyout offers. The moves come as Chrysler is struggling to reduce its cash burn and while its owner, Cerberus Capital Management, is discussing merger or sale deals with both General Motors...