financetom
Business
financetom
/
Business
/
Italy eyes better relations with Stellantis after automaker saves supplier jobs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Italy eyes better relations with Stellantis after automaker saves supplier jobs
Dec 10, 2024 10:41 AM

ROME (Reuters) - Italy's Industry Minister Adolfo Urso announced a deal on Tuesday to avert 249 layoffs at suppliers to Stellantis, saying he hoped the breakthrough would help repair strained relations with the carmaker.

Stellantis and Italy's government have been at loggerheads for months, with politicians in Rome accusing Fiat's parent company and its CEO Carlos Tavares of neglecting historic Italian manufacturing sites and moving production abroad.

But a top Stellantis manager said on Monday, days after the sudden departure of Tavares, that he would present a clear plan to revive output in Italy at a meeting on the Italian automotive industry Urso is set to host on Dec. 17 in Rome.

On Tuesday, the minister said he brokered a deal whereby Stellantis agreed to extend a contract for another year with its logistics supplier Trasnova, which would otherwise have fired 97 people at the end of the month.

A further 152 jobs at two of Trasnova's subcontractors - Logitech and Tecnoservice - which were also set to be lost at the end of the year, have been saved thanks to the contract extension.

The deal "represents a concrete sign of responsibility at a crucial time for the automotive sector," Urso said. "I hope it will also mark the start of a new and productive path with Stellantis", he added.

In a separate statement, the Franco-Italian carmaker said it had acted responsibly and would continue its efforts to safeguard jobs at its Italian operations while dealing with the challenge of the electric transition.

Unions said the 12-month reprieve for the workers facing layoffs should be used to find longer-term solutions for the Italian auto sector, including at the meeting due to take place at Urso's ministry next week.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Oscar Health's Enrollment Likely Better Than Feared, Pricing May Provide Cushion, UBS Says
Oscar Health's Enrollment Likely Better Than Feared, Pricing May Provide Cushion, UBS Says
Mar 11, 2026
10:58 AM EST, 01/09/2026 (MT Newswires) -- Oscar Health's ( OSCR ) enrollment in the health insurance exchanges is likely better than previously thought, UBS Securities said in a note Friday. The company's enrollment may be in the 20 million to 21 million range, above the 15 million to 18 million range expected by the industry, the note said. Predictions...
Canadian Banc Completes Overnight Marketing of Preferred Shares
Canadian Banc Completes Overnight Marketing of Preferred Shares
Mar 11, 2026
10:36 AM EST, 01/09/2026 (MT Newswires) -- Canadian Banc ( CNDCF ) on Friday said it completed the overnight marketing of preferred shares of the company. The company said that the total gross proceeds of the offering are expected to be approximately $103.2 million and that the sales period of the overnight offering has now ended. The preferred shares are...
Insmed Maps Aggressive 2026 As Newly Approved Lung Disease Drug Gains Traction, Pipeline Advances
Insmed Maps Aggressive 2026 As Newly Approved Lung Disease Drug Gains Traction, Pipeline Advances
Mar 11, 2026
Insmed Inc ( INSM ) on Friday outlined a commercial and clinical roadmap for 2026, highlighting strong momentum from its respiratory portfolio and a series of upcoming trial readouts and launches that could shape the company's growth over the next 18 months. • Insmed ( INSM ) stock is gaining positive traction. Why are INSM shares climbing? Speaking ahead of...
Top Wall Street Forecasters Revamp Campbell's Expectations Ahead Of Q2 Earnings
Top Wall Street Forecasters Revamp Campbell's Expectations Ahead Of Q2 Earnings
Mar 11, 2026
The Campbell’s Company will release its second-quarter earnings before the opening bell on Wednesday, March 11. Analysts expect the Camden, New Jersey-based company to report earnings of 57 cents per share. That’s down from 74 cents per share in the year-ago period. The consensus estimate for Campbell’s quarterly revenue is $2.61 billion (it reported $2.69 billion last year), according to...
Copyright 2023-2026 - www.financetom.com All Rights Reserved