Marcus Mayeux (Mmayeux73)
Junior Member
Username: Mmayeux73
Post Number: 191
Registered: 4-2002
| | Posted on Thursday, May 16, 2002 - 3:23 pm: | |
Fiat is planning almost 3000 job cuts in Italy in another attempt to reduce debt and boost its carmaking business back to health. On Wednesday, Fiat said it would shed 2887 workers across its industrial group, with 2442 of them coming at money-losing Fiat Auto. The workers won�t actually be fired, because Italy�s labor laws permit only a paid semi-retirement. Earlier this week Fiat said it would sell shares in Ferrari SpA to speed its return to profitability.
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