Major job cuts and or alliance with other automakers are not in the plans for Italian-American automaker Fiat Chrysler, the company's new CEO says.
Mike Manley, who took over for the late Sergio Marchionne last year, said the company downsized its workforce significantly during the global financial crisis 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."
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. "We know we have the resources. We have the balance sheet strength," he told reporters Monday at the North American International Auto Show in Detroit.
Although he's not looking for large-scale partners, Manley said he would be foolhardy to rule out any offers.
Manley also said FCA realigned its North American manufacturing operation to phase out compact and midsize cars and convert the factories to SUVS and pickups, boosting its profit margins.
He also confirmed plans to add factory capacity to build larger 3-row Jeep SUVs that are in the works. He wouldn't say where but there have been reports it will reopen a factory in Detroit. He said the additional jobs created will be significant.
