Chrysler workers have taken to calling it the "Valentine's Day massacre." They are referring to Wednesday's restructuring announcement from Chrysler, one that some analysts say could cost 10,000 production workers their jobs. As workers await the news, rumors fly: Two plants to be shut down; buyout or early retirement offers similar to what Ford Motor Co. and General Motors Corp. did to reduce their hourly work forces; flat-out layoffs. Analysts predict another 1,000 to 1,500 salaried workers also could lose their jobs as Chrysler Group joins its two domestic rivals in trying to downsize factory capacity to match lower demand for its products.
See "Chrysler Workers Fear the Restructuring", Tom Krisher, San Francisco Chronicle, February 11, 2007