The recently merged Fiat Chrysler Automobiles (FCA) have announced that they will be moving their headquarters to London, England.
Currently Fiat have their headquarters in Turin, Italy and would mean that they move from their home which they have held for the past 115 years. The current Chrysler headquarters is in Auburn Hills, just outside Detroit in the US.
Sergio Marchionne is the CEO of FCA and this is what he had to say about the proposed move of the headquarters to London: "Headquarters will be in London. It's clear that group executive functions, the board, my office, some of my functions, need to operate out of London, but that doesn't mean that I'm giving up my operational responsibilities of the U.S. We will be multi-faceted ... we will do stuff everywhere."
This move has raised some concerns within Italy as unions and politicians are worried that the headquarters moving to London would mean some job losses in the area. Marchionne said that the move would not affect any jobs in Italy or anywhere else for that matter.
Fiat bought over Chrysler back in January of this year in a deal worth £2.57 billion, making this the seventh largest automobile manufacturing company in the world. When the merger was first announced, it was expected that the main headquarters would be in New York with a secondary headquarters in Milan. London was only expected to have the tax domicile, but now is set to host the main headquarters for the company.
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