Mass job losses to hit Fiat
Fiat plans to stop car production at one Italian plant and change to a new platform at another, its chief executive told government and unions, as he explained the local impact of its deal to steer Chrysler back to health. Sergio Marchionne, who now also heads the US car maker, said that Fiat planned to continue producing its Lancia Ypsilon cars at the Termini Imerese plant in Sicily until 2011 but would then cease production there. Fiat has taken a 20 per cent stake in struggling Chrysler in return for its small car technology.