DaimlerChrysler, struggling to turn around its money-losing Chrysler unit in the U.S., says it will shrink its workforce in Germany by 5,000 to 6,000 by the end of next year, citing a slowdown in its commercial vehicle business. The company has eight truck plants in Germany in addition to six passenger-car plants. The company says that the cuts would be made through attrition and that there would be no layoffs. DaimlerChrysler has about 191,000 workers in Germany. The company has launched a three-year turnaround plan for its U.S. arm that calls for eliminating nearly 26,000 jobs, closing six or seven plants and selling unnecessary business units.
– Ford is scaling back plans to install wireless communications and Internet capability in millions of new cars, sport-utility vehicles and other models beginning next year. The automaker also says it plans to sell its stake in Internet Capital Group Inc. after losing nearly all of the $50 million it invested two years ago in the company, which invested in a variety of e-commerce companies. Ford paid $108 a share for the stock, but Ford’s stake is now worth about $560,000. The divestiture will allow Ford to write off the losses.
– General Motors has extended its zero-percent program to Jan. 15, one day longer than Ford’s and a week longer than Chrysler’s. GM’s program had been scheduled to end Jan. 2. GM also has added a $500 rebate to nine car lines and 14 truck lines that can be combined with a financing incentive through Jan. 2. The zero-percent program applies to 36-month loans on 2001 and 2002 GM models except Cadillacs, the Chevrolet Corvette and Saturn’s VUE sport-utility vehicle and L100 Special Edition sedan.
– Those concerned that Santa might pass them by this year–for economic or other reasons–can track his path on Christmas Eve at www.noradsanta.org. The North American Aerospace Defense Command (NORAD) maintains the site, which also seeks to answer such mysteries as how, and why, Santa goes down the chimney, and how he delivers all his presents in one night.