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

    'We scoured for days without sleeping, just clothes on our backs'

    'We scoured for days without sleeping, just clothes on our backs'

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Daughters of al-Shabab

    Daughters of al-Shabab

    What draws Kenyan women to join al-Shabab and what challenges are they facing when they return to their communities?