Cash-Strapped Fiat Temporarily Closes Europe HQ

Cash-Strapped Fiat Temporarily Closes Europe HQ
Fiat is tightening all loose screws and battening the hatches, as they get ready for what will undoubtably be one of the worst sales years for the European market.

The company has a number of revival projects on the table including bringing the Alfa Romeo brand to the US in what will most likely be a couple of years. They have also signed new, more flexible labour agreements with the Italian unions, but it might be a bit too late for its white collar workers.

According to AutoNews Europe, the Italian automaker will close its European headquarters and send its workers there on a prolonged summer break this year.

Over a period of eight working days in the next two months, the Mirafiori headquarters, saving the company an estimated $10 million in costs. The plant will be closed on June 14-15, June 20-21 and for four more days in July that have yet to be announced.

Thankfully for the 5,400 Fiat employees, they will receive about 80 percent of their regular pay.
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