Chrysler Financial Slashes Jobs

Chrysler Financial is cutting its workforce 9% and closing its Kansas City customer-service center in the wake of Chrysler Group LLC’s move to employ General Motors Acceptance Corp. as its retail finance arm.

The action displaces about 350 people, 240 of whom were assigned to the Kansas City site. Chrysler Financial also consolidates its U.S. retail financing operations in Auburn Hills, MI, home to its Great Lakes Business Center. This work had been performed at eight centers in various locations across the U.S.

While many job cuts are immediate, the Kansas City closure is effective Aug. 31. The company also blames sagging industry sales for the workforce reduction.

“While these were difficult decisions to make, they are necessary in light of our declining portfolio,” Chairman and CEO Tom Gilman says in a statement. “We have made every effort to limit the number of job losses and to ensure the affected employees are treated fairly.”