DETROIT -- DaimlerChrysler AG's Chrysler Group will unveil a restructuring plan that includes job cuts and plant closures when it releases its 2006 earnings in February, a company official said yesterday.
The official, who did not want to be identified because he is not authorized to speak about the plan, said the restructuring won't be as drastic as in 2001, when Chrysler shed 40,000 employees with layoffs and the sale of component plants.
Company spokesman Jason Vines would not comment on the plan.
Industry analysts have predicted job cuts and up to two plant closures as Chrysler moves to stem losses. The company lost $1.5 billion US in the third quarter, and its sales were down 7.7% through November compared to sales in the first 11 months of last year.
Chrysler Chief Executive Officer Tom LaSorda has said he does not expect widespread buyout and early retirement offers to be included in the restructuring.
Competitors Ford Motor Co. and General Motors Corp. both offered buyouts to all their hourly workers earlier this year. About 38,000 Ford workers signed up for the offers, while 34,000 GM employees have decided to leave the company.

