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Stellantis CEO Tavares says no plans to cut jobs following PSA/Fiat merger

FILE PHOTO: Carlos Tavares, chief executive officer of PSA Group, poses during the annual results news conference at their headquarters in Rueil-Malmaison, near Paris, France, February 26, 2020. REUTERS/Benoit Tessier

PARIS (Reuters) - Stellantis’ newly-installed Chief Executive Carlos Tavares said on Tuesday the company, formed through the merger of France’s PSA and Italy’s Fiat Chrysler, did not plan to cut jobs as part of group efforts to cut costs.

Asked about possible layoffs in an interview on Franceinfo radio, Tavares said: “It’s not what we’re forecasting.”

“What would have been dramatic would have been not to have carried out the merger. Not doing it would no doubt have put both sides in a very difficult situation in order to cope with the extra costs linked to new regulations,” Tavares added.

(Adds dropped word “to”)

Reporting by Sarah White, Editing by Dominique Vidalon

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