Fiat plans to cut 5,000 jobs: Report

Rome, Mar 24: Industrial group Fiat is planning to cut 5,000 jobs in Italy as part of its new strategic plan, a media report said on Wednesday, Mar 24.

According to a Italian newspaper La Repubblica report, Fiat would announce the job cuts as it unveils its 2010-2014 strategic plan on Apr 21.

"The job cuts would affect car plants in Italy and represent 15 per cent of the 30,000 workers employed on assembly lines in the country," the newspaper said.

The Fiat group employs just over 80,000 people in Italy and 190,000 worldwide.

The report also said that the company plans to cut the number of its models from 12 to eight, but increase auto production in Italy by 50 percent.

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