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Auto roundup: Fiat deal, UAW corruption, GM layoffs

Dec. 05, 2019 3:24 AM ETStellantis N.V. (STLA) Stock, GM StockGM, STLABy: Yoel Minkoff, SA News Editor5 Comments
  • Local United Auto Workers leaders nationwide have approved a new four-year labor contract with Fiat Chrysler (NYSE:FCAU), sending it to their rank-and-file members for final approval.
  • Former GM (NYSE:GM) board member Joe Ashton, a retired UAW leader, also pleaded guilty to criminal charges as part of an ongoing federal corruption probe into the union.
  • Lastly, General Motors announced it will be laying off more than 800 employees as it converts its Detroit Hamtramck plant to an electric vehicle facility, though most of the workers will be offered buyouts or jobs at other factories.

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