Chrysler presents more than 20,000 buyout offers yesterday

Chrysler announced late yesterday that it will offer 2,400 buyout offers at its Belvidere, Illinois, assembly plant, the 20th Chrysler factory to receive buyout offers since September, and another 18,000 white collar buyouts. Those offered the buyouts have until November 26th to accept Chrysler's offer.

The Belvidere facility builds the Dodge Caliber and Jeep Patriot and Compass. A third shift at the plant was eliminated earlier this year, though the automaker says it will continue to operate two shifts even without the workers.

Chrysler also delivered more than 18,000 buyout proposals to its white-collar employees yesterday, which the automaker hopes will put it closer to its goal of eliminating 25 percent of its work staff. Should the automaker need, it will begin involuntary layoffs, said Chrysler spokesman David Elshoff.

Though details aren't available on the assembly plant buyouts, the white collar offers included a $25,000 voucher to be used towards a new Chrysler vehicle invoiced to a dealer before July 1 in order to clear out extra stock.

The Chrysler spokesman also said that another 938 buyout offers are headed to Canada, 1,250 to Mexico and 470 elsewhere in the world.