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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: sylvester80 who wrote (20328)	1/9/2002 5:48:40 PM
From: Sully-	Read Replies (3) of 99280

26,000 job cuts @ Chrysler ......................... AUTOSHOW-Chrysler cuts vehicle spending but adds models (UPDATE: Updates throughout with details, quotes, background) By Justin Hyde and Madeline Chambers DETROIT, Jan 9 (Reuters) - The Chrysler arm of DaimlerChrysler AG (NYSE:DCX - news) will spend $30.2 billion on new vehicles between 2002 and 2006, less than projected in the company's turnaround plan announced a year ago................... While the cost cuts, including 26,000 job cuts, have been running ahead of plan, the revenue improvements have not appeared because of lower than expected U.S. market share and higher costs for consumer rebates. Zetsche and other DaimlerChrysler executives said they were sticking to their target of breaking even in 2002, but could not guarantee the results given uncertain economic forecasts...................... biz.yahoo.com

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