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60,000 auto jobs at risk in Italy: Fiat chief
2009-01-26
ROME, Jan 26, 2009 (AFP) - Italy's auto sector could shed 60,000 jobs unless the state comes to the rescue, the head of Fiat said on Monday ahead of a government meeting on the challenges facing the car industry. "If the government doesn't intervene, the risk that 60,000 workers in the automotive sector will have to stay at home is real," Fiat chief executive Sergio Marchionne was quoted by Italy's Ansa news agency as saying. "We are expecting measures for the entire automotive sector, which is currently selling 60 percent less than last year," he said. "It's not a case of helping Fiat but of re-starting an entire production sector and the whole economy, he added. Italian Prime Minister Silvio Berlusconi has ruled out state aid for the car industry but called a meeting on the issue for later this week. Fiat has slashed production recently because of the slump in global demand. The group cut its 2009 forecasts earlier this month and said it would not pay shareholders a 2008 dividend. Marchionne has said he expects 2009 to be the historic Italian industrial giant's toughest year to date.
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