Chrysler’s financial arm this week is eliminating 80 jobs.
Chrysler Financial said the majority of the cuts affects the company’s Farmington Hills, Michigan headquarters. The firm has more than 3,500 employees. The cuts affect 2.3% of the workforce.
Chrysler Financial received a $1.5 billion infusion in January from the government’s bank bailout program, but the Obama administration gave the parent company 30 days to restructure and complete a partnership with Italian automaker Fiat SA.
Privately owned Chrysler LLC is operating on $4 billion in government loans.Chrysler Financial Cuts 80 Jobs by Harrison Barnes