GM-Chrysler deal to lead to thousands of layoffs
Grant Thornton LLP, an automotive consultant company, reported that a merger of General Motors and Chrysler would result in thousands of layoffs. The report noted that half of Chrysler’s 14 manufacturing facilities would likely close, which would lead to about 24,000 job cuts, not including suppliers who would be affected. The report also indicates that of the 26 models offered by Chrysler, 7 would be retained. The Grant Thornton report estimates that between $6 and $10 billion in costs would be eliminated because of the merger.