According to Italian newspaper La Repubblica, Fiat plans on cutting 5,000 jobs in Italy, slashing the number of car models and increasing production as a part of its new business plan.
The newspaper said that the cuts would affect about 15 percent of the 30,000 assembly line workers at Fiat. Overall, the cuts will affect four plants in Italy. The paper also said that the company plans on cutting the number of its models from 12 to 8, but will increase production in Italy by 50 percent to 900,000 units.
It said that Fiat will launch and produce vehicles in the United States seven models under Fiat, Lancia and Alfa Romeo. This would bring U.S. production to 350,000 units.
Fiat had no comment on the report but is scheduled to release a new strategic plan for the years 2010-2014 on April 21.
It was reported yesterday that Fiat will take over Chrysler sales and service across Europe.
– By: Omar Rana
Source: Detroit News