The privately-held automaker plans to let go of 1,000 salaried jobs by the end of September in order for the company to survive the current market conditions.

The company said that, in order to slash costs by $10 billion, the job cuts will be achieved by phasing out white-collar jobs through a combination of retirements and special programs.

Chrysler and its larger rivals General Motors Corp. and Ford Motor Co. have been forced to expand restructuring plans based on US auto sales being at a 15-year low.

Chrysler also said that nearly a year after being acquired by Cerberus it would close a minivan plant and eliminate one shift at a Dodge Ram truck plant in Missouri to cut excess capacity.

For more information on blue-collar jobs in your area, click here.

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