  We present the results of a search for X-ray variability in the galactic open
cluster NGC 2516. This cluster has been observed on 8 occasions using
XMM-Newton making it an excellent target for such a study. We find 4 sources
which show significant variability, implying the detection of one significantly
variable source every 25ksec. All sources exhibit spectra which can be fitted
using an absorbed one or two temperature thermal plasma model. The brightest of
these flares also show a prominent Iron line near ~7.0keV. All 4 sources lie
near the observed main sequence of NGC 2516 suggesting they are cluster
members. We propose that at least 3 of the 4 objects are RS CVn systems. We
compare the properties of the brightest flare with those of solar flares.
