Fiat to Shut Down Plant if No Deal With Unions-CEO
As talks between Fiat and union leaders in Rome resume on Friday, the company is reminding the union of what they will lose if a deal is not reached. The company has said that without a deal, they will close the plant and take production elsewhere. The unions have already accepted most of Fiat's demands, including a six day work week and three shifts a day. Fiat has committed 700 million euros to build a new model at the Italian plant, but says it will take it elsewhere. Talks have been ongoing for weeks.
See "Fiat to Shut Down Plant if No Deal With Unions-CEO", Gilles Castonguay, The Wall Street Journal, June 10, 2010