On Saturday, the 30th of November 2019, the London-based Italian-American carmaker, Fiat Chrysler Automobiles NV, shortly abbreviated as FCA, alongside the United Auto Workers (UAW), the Detroit-based labours’ union accountable to oversee more than 300,000 auto workers in the United States and Canada and 600,000 retired members, had issued a joint statement saying that the Italian-American carmaker had reached a tentative deal for a four-year labour contract with the UAW, suggesting a much-required boost for the automaker as it had been looking to seal a $50 billion merger deal with the French Peugeot-maker Groupe PSA which in effect would make the merger wold’s fourth-largest automaker by revenue.
In point of fact, the London-based FCA alongside French Groupe PSA had announced a $50 billion merger attempt last month, while the multinational automakers were expected to complete the deal by the year-end. Nonetheless, FCA’s tentative labour deal with its workers’ union followed two other four-year long contracts with Detroit-based US carmaker Ford Motor Co.
and General Motor Co., while a contract with GM came forth after 40 days of strike that costed the US-based carmaker nearly $3 billion. Besides, a UAW spokesman said following Friday’s (November 30th) announcement that FCA and its workers’ union had reached a four-year contract, the FCA contract had included a $9 billion investment from the Italian-American carmaker, while the London-based automotive industry giant had also committed to create 7,900 new jobs over the course of next four years.