Chrysler Joins GM and Ford in Planning Major Buyouts

Joining the race to eliminate the twin problems of too much experience and high wages, Chrysler is planning to offer buyouts to all of its Detroit area blue collar workers. The buyouts will max out in the neighborhood of $100k and are an attempt to trim 10,000 workers out of the 14,000 union membership the offer will be extended to. Some percentage of those workers will be replaced with lower wage workers, as negotiated under the new union agreement. No word on the final target for headcount reduction. [via Reuters]