Fiat to put 5000 Italians out of work

Fiat Puts 5,000 Italians Out Of Work
March 24, 2010
ROME (AP) - Fiat will cut 5,000 jobs in Italy, slash the number of car models and increase production as part of its new strategic plan, a
newspaper reported Wednesday.
La Repubblica said the cuts would affect about 15 percent of the 30,000 assembly line workers at Fiat. They would include between 2,000 and 2,500 workers at the historic Mirafiori plant in Turin and some 1,500 employee at the Termini Imerese plant in Sicily, which will stop auto production next year. Overall, the cuts would affect four plants in Italy.
Fiat had no comment on the report. The company is scheduled to release its strategic plan for the years 2010-2014 on April 21.
Repubblica also said the company plans to cut the number of its models from 12 to eight, but increase auto production in Italy by 50 percent to 900,000 cars.
It said Fiat, which sealed an alliance with Chrysler last year, plans to launch and produce in the United States seven models under the Fiat, Lancia and Alfa Romeo brands. This would bring U.S. production to 350,000 cars, according to the report.
Fiat took a controlling 20-percent stake in Chrysler Group LLC last June, as the U.S. automaker emerged from bankruptcy, in exchange for small car technology and management leadership.
Union leader Gianni Rinaldini told the ANSA news agency that if confirmed, the figures of laid off workers would be "worrisome and unacceptable." He called on the government to open talks with Fiat.
The report sent Fiat shares up on the Milan stock exchange. In mid-morning trading, there were up 2.7 percent at ?9.6 ($13).
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I find it a little hard to believe that Fiat would be very successful competing in this market. If you have ever owned a Fiat, or a Lancia, or an Alfa Romeo, you will know what I mean.
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hls wrote:

Maybe an online pool on when Fiat/Chrysler croaks or begs "just a little more" bailout heroin?
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Look for a scam. This whole setup is primed for a scam.
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hls wrote:

Sounds like a plan for transfer of more wealth out of the U.S. - we now have to bail out Fiat and their union?
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Will 500 less make much of a difference? In the socialist counties in Europe it probably takes that many to make a have dozen vehicles as week. ;)

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Never owned one as I knew of their reputation. I've read though, that they have greatly improved and are now held in high regard in Europe, but a rough reputation to overcome in the US. They do have a couple of sharp looking models too, but I never had the chance to drive them. The Linea has nice lines, as does the Bravo. Last couple of trips across the pond the rental agency gave me a Smart For Four instead of a Fiat.
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I should have mentioned For those wondering about the Fiat name, it is not the name of a person or company owner, but is Fabbrica Italiana Automobili Torino
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We owned a few. One rustbucket, one very undependable although luxurious model, and one extremely fine car.
In general, they are not very good.. I hope they improve.
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I though it was Fix It Again Tony ;)

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