Chrysler's Top Brass Assured Employees that Cerberus is 100% Committed
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Chrysler’s CEO LaSorda in a
forum has assured 400 employees that Cerberus is 100 percent committed.
Similarly, top executives of Chrysler has also launched major internal
communications to help in informing the still jittery employees of what the
sale of the company to Cerberus Capital have in store for them.
The stressful months of
uncertainty about the future of Chrysler manufacturer of high quality Dodge step bar has
ended last week when Daimler/Chrysler has finally announced that it has chosen
Cerberus as the new owner of its money losing arm. But despite the proclamation
there are still lots of questions an unanswered and most of them are from the
employees.
Last Monday, Chrysler CEO
LaSorda hosted a town hall-style meeting with some 400 employees, updating them
on the plan of the company in the coming weeks. His message was---
"Cerberus is 100 percent committed to Chrysler and employees need to
buckle down on the turnaround plan."
To illustrate just how
information hungry were the employees, it took 14 minutes for the 400 employees
to sign up online for CEO LaSorda’s meeting. Some of the toughest questions
thrown at Chrysler’s CEO dwell on the issue why executives were recently
awarded bonuses.
The management of Chrysler will
schedule more forums for the next three weeks to answer all the questions of
the employees and at the same time to inform them on the various changes that
will take happen in the company.
There was one salaried employee
that described the atmosphere this week as "pretty much business as usual
here but everybody wants to know what is going to happen."
Both CEO LaSorda and Chief
Operating Officer Ridenour are stressing in their messages the point that
Chrysler employees can determine their future by executing the so-called
Recovery and Transformation Plan that was started last February 14.
In a note written by Ridenour
last Tuesday, employees were given a comprehensive update on the “Plan” that
includes job cuts, factory closures, and a push into global markets. He also
stated in the note that the strategy will require a “built-in discipline that
has been lacking before.”
The plan will be comprised of
29 sub-teams working in seven key areas that will cover product strategy to
capital management to quality and material cost management. There will be
deadlines and targets that are to be set while team projections are tracked.
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