Chrysler LLC said Thursday it plans to cut up to 12,000 jobs, or up to 15 percent of its workforce, as part of an effort to slash costs and match slowing demand for some vehicles. The Auburn Hills, Mich.-based automaker will cut 8,500 to 10,000 hourly jobs and 2,100 salaried jobs through 2008. The cuts come in addition to the 13,000 layoffs Chrysler announced in February.
New York Attorney General Andrew Cuomo on Thursday alleged major appraisal firm eAppraiseIT, a subsidiary of First American Corp. (FAF), colluded with Washington Mutual (WM) to inflate the values of homes, contributing to the subprime mortgage crisis. He also released e-mails that he said show executives were aware they were violating federal regulations.