Fiat Reveals Restructuring Plan

Fiat has released details of its latest restructuring plan and, as expected, 12,300 jobs will be lost as a result, with 12 of the company’s 138 plants worldwide being closed. Many of the job cuts will be outside Italy, mainly at Case New Holland and Iveco factories. Fiat also announced an increase in R&D spending and new products of 17 billion Euros, plus a plan to increase capital with a 1.