Fiat Chrysler strong enough to stand alone, says new boss
Detroit - Fiat Chrysler's new CEO says major job cuts or an alliance with other car companies are not in the plans for the Italian-American carmaker.
Mike Manley says the company downsized its workforce significantly a decade ago, and smaller cuts have been made since. So unlike crosstown rivals Ford and General Motors, he doesn't expect any "big bang event."
Manley took over for the late Sergio Marchionne last year. Three years ago, Marchionne was shopping for a partner and said the industry needed to consolidate to better share huge capital investment costs.
But Manley says FCA is now in a different position and can go it alone. He said at the Detroit auto show that the company has the resources and the balance sheet to stand on its own.
Last week Ford announced that it would cut jobs in Europe as it reshapes its business to focus on more profitable commercial trucks and SUVs while shifting production to electric cars over the longer term.
General Motors announced similar cuts, as well as US plant closures, late last year.