Poland / Fiat announces 1,500 layoffs

Fiat announced 1,500 layoffs at its Polish operations to reduce production, as demand is plummeting in Europe.

Fiat forecasts losses of 700 million euros ($903 million) in Europe this year. The cuts will come at the Tychy plant as well as from sales staff in the country, Fiat said in a statement on Friday. Fiat aims to produce fewer than 350,000 cars in Poland this year and less than 300,000 next year as the European auto market is set to hit a 17-year low in 2012.

Choosen excerpts by Job Market Monitor from

via Fiat announces 1,500 layoffs in Poland.