The Italian car manufacturer Fiat (FIA.MI) will cut five thousand jobs while simultaneously increasing production in Italy by 50 percent as part of a strategic plan that is expected to be announced next month, reported the Roman newspaper La Repubblica on Wednesday.
The planned job cuts at three Italian factories would account for 15 percent of the total 30 thousand jobs in Italian assembly plants, the newspaper writes. The Fiat group employs a total of 80 thousand workers in Italy, and another 190 thousand worldwide, according to the group’s current financial report. Fiat will present its strategic plan for the period from 2010 to 2014 to the public on April 21. La Repubblica also reported that Fiat intends to reduce the number of models from 12 to eight while simultaneously increasing production volume in Italy by 50 percent, to 900 thousand vehicles. In the United States, where Fiat has an ownership stake in the struggling Chrysler, the Italian group aims to produce seven models, including the Fiat, Lancia, and Alfa Romeo brands, totaling 350 thousand cars. Fiat was not available for comment. (H)
