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D&S BLOG

D&S Admin Oct 23, 2008

A quick gloom and doom update on the US auto industry today.

Chrysler announced that it was cutting 1,825 jobs. The cuts are about 6% of the company's hourly workforce of 33,000.

General Motors announced that it is indefinitely suspending company matching contributions to employee 401K retirement accounts.

The Washington Post reports that Detroit automakers are pulling out of NASCAR:

Published in: D&S BLOG

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Dollars & Sense is a non-profit, non-hierarchical, collectively-run organization that publishes economic news and analysis.