DaimlerChrysler AG's Chrysler Group will offer select hourly employees up to $100,000 to leave the company as part of a restructuring plan that calls for shedding 11,000 factory jobs to help restore profits by 2008.
Chrysler will offer union workers two options: an early retirement package for those who meet certain eligibility requirements and a cash buyout for those not eligible to retire, according to a document detailing the program that was obtained by The Detroit News.
The offers will be targeted at employees working at factories in the United States that will be affected by Chrysler's plan to cut 400,000 units of production as part of its restructuring.
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