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Fiat Tells Unions It Can’t Afford Raises
Fiat Chrysler Automobiles has told its unions in Italy that the weak European car market makes it impossible to grant pay hikes in this year's labor talks.
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Fiat Chrysler Automobiles has told its unions in Italy that the weak European car market makes it impossible to grant pay hikes in this year's labor talks.
The unions are insisting on an average monthly raise of €90 in 2014 and 2015 to help its members cope with Italy's lengthy recession. Both sides says negotiations have been suspended indefinitely over the wage issue.
Reuters notes that unions and the Italian government are watching this year's talks closely for signs that FCA may be less committed to protecting auto industry jobs in Italy after Fiat completed its acquisition of Chrysler Group LLC last month.
The new company plans to move its tax domicile to the U.K., list its shares on the New York Stock Exchange and make Chrysler's existing offices outside Detroit a second headquarters.
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