Chrysler Cars

Chrysler balks at Uberlease

In the interests of cost-cutting, Daimler Chrysler has retreated from its commitment to lease five-floors of prime Chrysler Building office space. The news comes after Daimler Chrysler’s announcement that they will cut 26,000 jobs — 20 percent of their North American work force.

But they are apparently left with five floors of prime, Chrysler Building space ideal for subleasing. According to one informed source who asked that his name not be printed, Daimler Chrysler — which has not “backed out of its lease” — will indeed explore subleasing potentials for this trophy space.

Recently, the Chrysler division reported a third-quarter loss of $512 million while their fourth-quarter loss could exceed $1 billion. Both a slower U.S. economy and heavier light-truck competition are being blamed for the company’s problems.