Fiat boss fears 60,000 job losses

Tens of thousands of car industry jobs could be lost amid economic crisis, CEO warns.

    The Italian car industry has suffered a sharp decline in vehicle sales due to the economic crisis [AFP]

    Government meeting

    Bruno Vitali, of the Fim-Cisl union, issued the same warning on Monday.

    According to the Italian Association of the Automotive Industry, there are 275,000 people in Italy employed by the car industry.

    Last week Fiat, the country's largest private-sector employer, reported a 70 per cent drop in its fourth-quarter profits, and said it expected demand to drop a further 20 percent in 2009.

    The government has said it will open talks this week on possible aid for the auto sector.

    Silvio Berlusconi, the Italian prime minister, has called for a meeting on Wednesday with industry officials to discuss the crisis.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Cricket World Cup 2019 Quiz: How many runs can you score?

    Cricket World Cup 2019 Quiz: How many runs can you score?

    Pick your team and answer as many correct questions in three minutes.

    Visualising every Saudi coalition air raid on Yemen

    Visualising every Saudi coalition air raid on Yemen

    Since March 2015, Saudi Arabia and a coalition of Arab states have launched more than 19,278 air raids across Yemen.

    Why did Bush go to war in Iraq?

    Why did Bush go to war in Iraq?

    No, it wasn't because of WMDs, democracy or Iraqi oil. The real reason is much more sinister than that.