Last Friday, Chrysler celebrated the first anniversary of its miraculous emergence from bankruptcy. What did the employees get in observance of this occasion? A watch? A bonus?
They received an email.
From Sergio Marchionne himself. In the email (a copy of which had been forwarded to Reuters), Sergio assures the worker bees that Chrysler is generating the cash needed to rebuild its product portfolio, that sales continue to gain momentum, and that the company’s alliance with Fiat is “taking root” by cutting costs and expanding revenue from outside of North America.
Cash is key to Marchionne’s ambitious five-year turnaround plan for Chrysler. Fiat could use some cash itself.
Chrysler caused bulging eyes amongst analysts when the company reported a $143m first-quarter, operating profit driven by cost-cutting and higher sales volume.
“There is still a very long road ahead in our drive to rebuild our business and to deliver on our promises to repay the American and Canadian taxpayers who gave us a second chance,” said Sergio. Thanks for reminding us.