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Chrysler plans restructuring

Chrysler plans restructuringIn the news: DaimlerChrysler’s Chrysler Group is set to unveil a restructuring plan that includes job cuts and plant closures when it releases its 2006 earnings in February.

The Associated Press, citing a company official said that the restructuring would not be as drastic as in 2001, when Chrysler shed 40,000 employees with layoffs and the sale of component plants.

Chrysler lost $1.5 billion in the third quarter, and its sales were down 7.7 percent through November compared to sales in the first 11 months of last year, the story said.

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