Catherwood LibraryILR School

Chrysler LLC is counting on a $25 Billion dollar loan, intended to help automakers develop more fuel-efficient vehicles, to help alleviate funding concerns and save jobs. Along with the other two largest automakers in the U.S., Chrysler hopes to persuade Congress to appropriate the funds, which were approved in the 2007 energy bill, prior to a recess for the November 4th election. Drops in sales, soaring gas prices and new fuel efficiency requirements all contribute to the financial strain facing the firm, forcing it continue to resize and reduces costs. The company has already launched additional buyout and early-retirement offers to its employees.