Alert: Fiat plans to cut 5000 jobs in Italy! image

Italian automaker FIAT, plans to cut about 5000 jobs as part of a new plan to build cars for Europe in US.
Chrysler will build 270,000 units a year for Fiat brand, Alfa Romeo and Lancia in factories in the U.S., Canada and Mexico starting in 2014.

In Italy, Fiat operates 5 plants – a total of 22000 workers. Cutting 5000 jobs represents almost a quarter. According to the Italian newspaper la Repubblica, Fiat’s plant in Mirafiori, Turin, will suffer most from the cuts with almost half of the 5,840 workforce losing their jobs.

Source: Autonews ( sub req )