Chrysler Corp. gives CAW written guarantee jobs are safe
Well, Chrysler Corp. CEO Tom LaSorda and Cerberus CEO Stephen Feinberg met with Hargrove today to smooth things over. They guaranteed Hargrove in writing that no Canadian auto worker jobs would be lost as a result of the sale. We think "as a result of the sale" is the key phrase in that sentence, as there are plenty of other reasons one could imagine for reducing a workforce: slow sales, high material costs, etc.
Nevertheless, it appears Cerberus isn't planning to come in and dramatically reduce Chrysler's CAW or UAW workforces. Hargrove sounded particularly pleased that Feinberg seemed to know what he was talking about and expressed his company was in it for the long haul.
[Source: Automotive News, sub. req'd]
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