DETROIT (AP) — Chrysler, bought last August by the private equity firm Cerberus Capital Management, told employees worldwide on Thursday to plan to take a mandatory two-week vacation in July.
Chrysler informed employees of the plan in an e-mail sent to employees that was obtained by The Associated Press. Chrysler spokeswoman Mary Beth Heilprin confirmed that the e-mail message was sent.
The carmaker plans a corporate-wide shutdown the weeks of July 7 and July 14. Ms. Heilprin says some employees might be asked to stay on to work on special projects.
It is common for automakers to shut down plants in July, but the Chrsyler announcement will also affect salaried workers.
Chrysler says the shutdown should help it boost productivity and efficiency. Ms. Heilprin did not have any details about why the decision was made.
Cerberus bought an 80 percent stake in Chrysler at the fire-sale price of $7.5 billion and immediately began cutting jobs and costs. But with a dwindling market share at home and a minuscule presence internationally, Chrysler has been struggling.
Try building something useful.
(Ford & G.M., too.)
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