Business News
Fiat begins two-week suspension of production
Feb 22, 2010, 11:58 GMT
Turin, Italy - Italian carmaker Fiat began a two-week suspension of production in its Italian factories Monday.
Around 30,000 employees are affected by the suspension, which is due to continue until March 5.
A fall in orders meant productivity had to be lowered to meet demand, Fiat said in January.
The carmaker reported a net loss of 800 million euros (1 billion dollars) in 2009. Turnover went down by 16 per cent.
Hopes of returning to profit in 2010 were dependent on European- wide, state-supported car scrappage schemes, Fiat said.
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