Chrysler seen talking to union over closures

Troubled automaker, recently taken private by Cerberus, could sell off two divisions employing 1,300 union workers, according to a report.


NEW YORK (CNNMoney.com) -- Chrysler is considering divesting divisions, which employ a combined 1,300 union workers, and is negotiating the plan with the United Auto Workers, according to a news report Tuesday.

The UAW opposes the move, saying that only declines in market share should lead to closures, said the Wall Street Journal.

Chrysler could sell its Mopar operation, which provides after-market parts, as well as Chrysler Transport, which moves supplies to and from the automaker's various plants, according to the report.

Talks between the company and the UAW were ongoing, said the Journal.

Several weeks ago new Chrysler CEO Robert Nardelli said the company might need to "monetize some assets" as part of its turnaround plan, according to the report.

Chrysler was recently bought out by private-equity firm Cerberus. Top of page

Sponsors

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.