History of Chrysler GMAC for Chrysler, potentially merging two of Detroit's "Big Three" automakers. These talks did not come to fruition, and were discontinued the next month. On October 24, 2008, Chrysler announced a 25% cut (5,000 jobs) in its salaried and contract workforce in November 2008. Michigan Gov. Jennifer Granholm announced that she, along with 5 other governors, sent a letter to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke requesting emergency funding for the Detroit Big Three Automakers. On the same day, General Motors asked the Treasury Department of the United States for $10 billion to help restructure both
Chrysler R platform Chrysler R platform The Chrysler R platform was introduced for the 1979 model year as an attempt to compete with General Motors' downsized standard line (introduced 1977) and the new Ford Panther series. It comprised six models and lasted just three years. As the middle of the 1970s approached, Chrysler was facing an increasingly worrisome organizational and financial situation due to a combination of internal and external factors. The company had suffered the embarrassment of releasing new, bulkier full-sized C-body models for 1974 which promptly flopped due to the 1973 OPEC oil embargo, and unable to fix the mounting difficulties