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Last updated on Monday, November 3, 2008
(DETROIT, MI) - The tag-team of French/Japanese automakers Renault and Nissan along with Chrysler owner Cerberus Capital Management have not scheduled any further meetings, which makes industry watchers believe a GM/Chrysler merger may be getting closer.
Reporters for MarketWatch.com, a partner of The Wall Street Journal, said Renault-Nissan had originally wanted to purchase a 20% stake in Chrysler, but no further meetings are on the calendar.
Various speculative reports indicate that, should this merger happen, about half of Chrysler's existing manufacturing facilities could be on the chopping block, as well as about all but 7 of Chrysler's existing name plates, and the cutting of about 24,000 jobs, not including suppliers.
Supplier job cuts could get as high as 100,000-200,000 jobs lost.
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