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Yezid Sayigh, Senior Associate at the Carnegie Middle East Center in Beirut

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Business

Up to 1,500 jobs to be axed at Fiat's US subsidiary

Latest update : 2009-04-23

Italian auto group Fiat has announced it will cut 10 to 15% of administrative jobs at its loss-making US subsidiary, CNH, an agricultural and construction equipment maker. In total, up to 1,500 employees worldwide will be affected.

AFP - Italian auto group Fiat said Thursday it would cut up to 1,500 administrative jobs at its loss-making US subsidiary CNH, an agricultural and construction equipment maker employing around 31,000 people.

Fiat's chief executive Segio Marchionne told a telephone news conference about the planned cuts, which will affect between 10 and 15 percent of administrative jobs.

A Fiat spokesman said CNH employed about 10,000 administrative staff, so the number of jobs affected could reach 1,500. Another spokesman had said earlier that the percentage applied to a total of 31,500 jobs.

Date created : 2009-04-23

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