Chrysler's "Project X" calls for 10,000 jobs cuts, two closed plants

We have more details on the rumored restructuring plan that the Chrysler Group is expected to announce on February 14th. First, it's dubbed internally as "Project X", which must mean it involves chimpanzees and large doses of radiation. In addition to radiated chimps (we're kidding, click the link for the punchline), Automotive News is reporting that the plan will likely involve cutting 10,000 factory jobs and closing the Newark Assembly Plant that builds the Dodge Durango and Chrysler Aspen, as well as the an engine plant in Detroit that we believe makes the 4.7L V8 motor for Jeep and Dodge. The ultimate goal is reportedly to make the Chrysler Group smaller, more efficient and more closely alligned with Daimler-Chrysler and Mercedes-Benz. The restructuring plan sounds similar to those currently being implemented by General Motors and Ford, though smaller in scale. For its part, Ford learned a valuable lesson not cutting deep enough the first time around, so we're eager to see if the Chrysler Group comes back for a second round of cuts, as well.

[Source: Automotive News]