LAST AUTO NEWS – FIAT: NO CHRYSLER MERGER UNLESS UNION CUTS COSTS
Last Auto News –
Chrysler has beneath than two weeks to align a alliance with Italian auto behemothic Fiat, or face the abandonment of federal funds and apparent bankruptcy. But the affairs of a accord may be bottomward away.
Fiat administrator Sergio Marchionne told Canada’s Globe and Mail “there is alone a 50-50 adventitious the affiliation will be formed.”
“In a bright bulletin to U.S. and Canadian unions,” Reuters adds, Marchionne “warned the afflicted U.S. carmaker’s unions he would canal the abstraction unless they agreed to cut activity costs.” American United Auto Workers Abutment assembly accept already agreed “to bout the lower activity costs of plants run by Japanese and German carmakers in the United States and Canada, he said,” but “Canadian unions were abnormally aggressive to the idea.” The Canadian Auto Workers abutment has so far not agreed to allowance and account cuts agnate to what U.S.-based Chrysler workers accept accepted.
If the unions do accede to concessions, the Detroit Free Press reports, “Marchionne said Fiat will do whatever it takes to animate Chrysler, including alms himself up as CEO.”
But, the Globe and Mail cautions, “As the April 30 Fiat-Chrysler affiliation borderline approaches, the affairs of Chrysler’s abortion arise as top as ever.”
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