fiat trouble

["Merrill, Ken" <KMerrill2@domain.elided>]

This just in:
ROME (AP) - Plagued by strikes, slumping sales and a sinking stock price,
ailing automaker Fiat said Wednesday it would lay off 7,600 workers.
Fiat Auto's decision to cut 20 percent of its domestic work force, coupled
with the recent announcement of 3,000 temporary layoffs, was the latest
attempt to keep Italy's largest private-sector employer afloat and improve
prospects for its sale to General Motors or another company.
Of the 7,600 targeted for layoffs, 6,700 work for Fiat Auto, which is 20
percent owned by General Motors, while the other 900 work for Fiat's various
automotive-parts divisions.


Uh-oh.
Regards,
Ken Merrill
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