Marchionne Reassures Italy Industry Minister He Will Not Cut Jobs in the Country image

Fiat CEO Sergio Marchionne reassured Italy’s industry minister at their meeting today, May 31st, that it will not cut jobs in the country.

Minister Flavio Zanonato has met today Fiat CEO Sergio Marchionne trying to convince him to let the Italian company where it was created. With the Chrysler acquisition getting closer, labor unions in Italy fear that Marchionne will move the automaker’s headquarters in the US. As Fiat and Zanonato pledged to join hands to help revive Italy’s auto market, the minister stressed the importance of the company’s base as part of its brand image.

“The meeting took stock of the automotive market’s situation and offered the chance to take the first step in working together to relaunch Italy’s car market,” the Ministry said.

Marchionne assured the Minister that Fiat will keep employment even if the auto market in Italy is close to drop to levels last seen in the 1970s. In 2012 auto sales in Italy fell 20% and this year are expected to drop 5% more, to around 1.3 million units. Fiat plans to manufacture Jeep vehicles and a new line of Alfa Romeos in the country to be exported in the US, Latin America and Asia.

“The meeting went really well,” Marchionne told reporters in Rome. “We have confirmed our commitments for Italy.”

Source: Reuters