The German-US car-maker DaimlerChrysler is expected to announce a major restructuring of its US operations leading to the loss of up to 25,000 jobs.
A company spokesman said today Chrysler will make a loss this year after an estimated profit of euro 510 million in 2000.
Mr Michael Pfister was confirming comments made by the group's chairman Mr Juergen Schrempp in a weekend newspaper interview.
Mr Pfister declined to confirm or deny a report in today's Wall Street Journal Europewhich said the group would announce a restructuring at Chrysler.
Quoting sources close to the plans the newspaper said Chrysler would close at least three factories.
"We've always said that full details of the plan would be revealed on February 26th. That statement still stands," Mr Pfister said.
Some 20,000 jobs would be cut from the 95,000-strong factory workforce over three years and a further 5,000 white-collar jobs would also go, the newspaper said.
The German news magazine Der Spiegelalso reported in today's edition DaimlerChrysler planned to close at least four factories and cut 21,000 jobs at Chrysler.
AFP