The President’s task force on the auto industry put a 30-day window on Chrysler and Fiat reaching an alliance agreement at the end of March. Chrysler announced the two companies had signed off on the deal. There remains a strong chance that Fiat may walk away from the talks. Sergio Marchionne as CEO of the Italian auto giant has given the first indication that not all is peachy around the negotiation table. If Chrysler’s U.S. and Canadian divisions cannot reach an agreement with the unions, Marchionne has warned that Fiat may walk away from the deal. He also revealed that he would like to change the management structure of Chrysler if a deal was reached.
Due to a disagreement on the level of proposed pay cuts, talks between Fiat, Chrysler, and the American carmaker’s associated unions broke down last week. Until now, both companies are optimistic about the deal.
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