Cuts likely as Fiat Chrysler-PSA tie-up nears approval

MILAN (AP) — Shareholders of Fiat Chrysler and France’s PSA Group are meeting Monday to vote on a merger that will create the world’s fourth-largest automaker. The new company called Stellantis will be run by PSA CEO Carlos Tavares, who is known for cutting vehicles or ventures that don’t make money. Experts say that means Tavares is likely to shed brands and vehicles that don’t pull their weight. Early cost-cutting moves will likely be in Europe, where PSA and Fiat Chrysler have overlapping vehicles and factories. Cuts are less likely in the U.S., where Fiat Chrysler makes big profits on larger trucks and SUVs that don’t sell well in Europe.