Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!americast.com!americast.com!americast-post Newsgroups: americast.twt.misc From: americast-post@AmeriCast.Com Organization: American Cybercasting Approved: americast-post@AmeriCast.com Subject: Italian automakers set layoffs Date: Fri, 30 Oct 92 15:33:28 EST Message-ID: \SE G;AUTO WEEKEND \SS (WS) \HD Italian automakers set layoffs \BY ASSOCIATED PRESS \DT MILAN, Italy MILAN, Italy (AP) - Ferrari, Maserati and Lamborghini, Italy's most prestigious luxury carmakers, announced production cuts and thousands of temporary layoffs last week. Ferrari, owned by Italy's auto giant, Fiat, and the manager of a Formula One racing team, said it will lay off 970 persons, half of its work force, for 13 days beginning Monday. The layoffs at Ferrari are intended to reduce production by 150 cars. Ferrari made 4,595 automobiles in 1991. Maserati, owned by Argentine-born industrialist Alejandro De Tomaso, said it will close its Milan factory by mid-December. The Milan plant, which employs 1,030, makes three Maseratis and 55 Mini utility cars a day. The Mini cars are assembled with engines supplied by Japan's Daihatsu. Maserati made public a plan of early retirements and state-subsidized layoffs for most of the Milan-based workers. About 50 could be re-employed in the Maserati factory near Modena, which is continuing production. Lamborghini, based near Bologna, said 150 of its 503 workers may face dismissal because of reduced production. Earlier, Fiat said it will lay off between 23,000 and 32,500 workers for two weeks in November to cut its automobile production up to 11,500 cars. This article is copyright 1992 The Washington Times. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM