In advance of a potential merger for General Motors and Chrysler, both firms announced additional layoffs. Chrysler released plans to cut a shift in an Ohio Jeep plant, and to close a sport utility plant in Delaware sooner than originally anticipated ? amounting to 1,825 layoffs by the end of this year. An email to division heads at G.M. indicates the firm will cut more jobs too, despite many employees agreeing to buyouts. G.M. will also stop matching employee contributions to 401(k)s.
See "G.M. and Chrysler Plan More Cutbacks", Nick Bunkley, The New York Times, October 23, 2008