Fiat denies it plans to cut 18,000 jobs, close factories
Fiat has denied a German news report that it plans to cut 18,000 jobs and close 10 factories in Europe, should it succeed in its bid to take over GM's European operations.
Italian auto group Fiat SpA will cut between 10% and 15% of jobs at US subsidiary CNH, an agricultural and construction equipment maker that employs around 31,000 people, Fiat said Thursday.