ROME, Nov. 26 (Xinhua) -- Italian Prime Minister Giuseppe Conte promised Tuesday that the pending merger between Italian-American carmaker Fiat Chrysler and France's Peugeot would not require any job cuts in Italy.

Speaking to television reporters, Conte promised the merger deal being negotiated would preserve Italian jobs. His remarks came a day after both companies sent letters to employees outlining the strategies for the merger, Italian media reports said.

According to Italian and international media reports, the boards of both companies are expected to finalize the deal before the end of the year.

The Italian media has reported that trade unions representing Fiat Chrysler workers in Italy have been worried that the deal could result in layoffs.

The deal would create the world's third- or fourth-largest maker of vehicles, depending on how such rankings are calculated. The company will be based in three cities: Turin in Italy, Paris in France and Detroit in the United States.

Markets have generally applauded the merger deal, which comes months after a failed merger plan between Fiat Chrysler and Renault, Peugeot's domestic rival. The shares of both companies have climbed since the proposed merger was announced last month. Enditem

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