Saturday, January 13, 2018 7:56:15 PM
Mexico Loses Chrysler Car Plant and Jobs to Americans
JANUARY 13, 2018 AT 1:33PM
Fiat Chrysler Automobiles is the latest company to announce good news resulting from the new Tax Cuts and Jobs Act.
The company said it plans to invest more than $1 billion in the Warren Truck Assembly Plant in Michigan, as well as relocate the production of its Ram Heavy Duty truck in 2020, which is currently being manufactured in Saltillo, Mexico.
Moving a plant to Michigan would create about 2,500 jobs, Reuters reported.
The company also said it would give $2,000 bonuses to 60,000 of its U.S. employees, although the bonuses will not include senior leadership.
Fiat Chrysler CEO Sergio Marchionne said the recent tax reform bill factored into the company’s decision, explaining that they wanted to pass the savings on to employees.
“These announcements reflect our ongoing commitment to our U.S. manufacturing footprint and the dedicated employees who have contributed to FCA’s success,” Marchionne said in a statement, according to The Detroit News.
“It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the U.S. business environment by investing in our industrial footprint accordingly,” he added.
It is awesome to see Americans winning thanks to common-sense tax reform.
https://conservativetribune.com/mexico-loses-chrysler-car-plant/
JANUARY 13, 2018 AT 1:33PM
Fiat Chrysler Automobiles is the latest company to announce good news resulting from the new Tax Cuts and Jobs Act.
The company said it plans to invest more than $1 billion in the Warren Truck Assembly Plant in Michigan, as well as relocate the production of its Ram Heavy Duty truck in 2020, which is currently being manufactured in Saltillo, Mexico.
Moving a plant to Michigan would create about 2,500 jobs, Reuters reported.
The company also said it would give $2,000 bonuses to 60,000 of its U.S. employees, although the bonuses will not include senior leadership.
Fiat Chrysler CEO Sergio Marchionne said the recent tax reform bill factored into the company’s decision, explaining that they wanted to pass the savings on to employees.
“These announcements reflect our ongoing commitment to our U.S. manufacturing footprint and the dedicated employees who have contributed to FCA’s success,” Marchionne said in a statement, according to The Detroit News.
“It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the U.S. business environment by investing in our industrial footprint accordingly,” he added.
It is awesome to see Americans winning thanks to common-sense tax reform.
https://conservativetribune.com/mexico-loses-chrysler-car-plant/
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
