EbeneNews – CA – Fiat Chrysler and union avoid Canada strike with tentative deal

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    Fiat Chrysler Automobiles NV and the union representing around 9,000 workers at its three Canadian factories reached a tentative agreement late Wednesday night, avoiding a strike that threatened to spill over into the automaker’s North American operations. p>

    Unifor, the Canadian union, said it would share details of the deal at a press conference Thursday morning in Toronto Fiat Chrysler representatives did not immediately respond to a request for comment

    Ahead of Wednesday night’s deadline, Unifor warned members to prepare for a strike, saying talks got bogged down on issues related to wages, health care benefits and investment commitments in Canadian factories

    Work stoppage would interrupt assembly of Pacifica and Voyager vans, Dodge Charger and Challenger muscle cars and a Chrysler sedan It would also stop production of aluminum castings for several Fiat Chrysler models, including highly profitable Jeep SUVs and Ram pickups built outside of Canada

    Auto maker strives to improve financial performance ahead of planned merger with French group PSA Italian-American auto maker must conserve cash to pay dividend of $ 3.4 billion (reported as € 2 9 billion) to its shareholders before the deal closes early next year This dividend was cut last month in a cost-cutting move

    Fiat Chrysler’s cash reserves have already been reduced by the effects of the coronavirus pandemic; the company halted production at its factories in Europe and North America in the spring to curb the spread of the virus North American activity has long contributed to the bulk of the automaker’s revenue, and another work stoppage in region would increase pressure on Fiat Chrysler’s financial results

    Unifor entered into a new employment contract with Ford Motor Co last month, securing nearly $ 1.5 billion in investments in two factories and a pledge to build electric cars at a factory near Toronto As is the case in model negotiations, Unifor used this agreement as a model for its discussions with Fiat Chrysler

    Last year Fiat Chrysler negotiated a new contract in the US with the United Auto Workers, which included wage increases and improved health benefits

    Quotes displayed in real time or delayed by at least 15 minutes Market data provided by Factset Powered and implemented by FactSet Digital Solutions Legal statement Mutual fund and ETF data provided by Refinitiv Lipper

    This material may not be published, broadcast, rewritten or redistributed © 2020 FOX News Network, LLC All rights reserved FAQ – Updated Privacy Policy

    Fiat Chrysler Automobiles, Unifor, Strike Action, FCA Windsor, Automotive Industry

    EbeneNews – CA – Fiat Chrysler and union avoid Canada strike with tentative agreement


    SOURCE: https://www.w24news.com

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