France

Peugeot to Merge With Fiat Chrysler

Peugeot to Merge With Fiat Chrysler

The majority of unions representing workers at Peugeot maker PSA are in favour of a planned $50 billion merger with Fiat Chrysler. However, the unions said that once the merger deal was signed they would be seeking detailed information about plans for the combined company.

The merger would help the companies pool their resources to meet tough new emissions rules and investments in electric and self-driving vehicles, as well as to counter a broader downturn in car markets.

Securing support from Europe’s powerful trade unions will be critical for the merged company, which will employ more than 400,000 staff and operate hundreds of factories worldwide. The deal has caused concern in Germany and Britain, where plants making Opel and Vauxhall cars have seen jobs cut in recent year as part of a cost-cutting drive.