Join Date: Aug 2008
Location: South Africa
Ferrari Life Posts: 1,291
Ferrari to cut jobs
Ferrari workers have walked out over plans to cut jobs and idle a plant as a result of reduced demand for engines from sister brand Maserati.
The workers walked out for four hours earlier this week over plans for Ferrari to cut 120 office positions and 150 factory jobs in exchange for the last payment of a 2009 bonus due last month, according to a workers' union official.
In addition, Ferrari plans to idle a factory in Maranello by laying off about 600 workers for a week from 17 May.
Ferrari spokesman Stefano Lai said the cutbacks were a result of fewer orders from Fiatís Maserati brand.
Lai added that the company intends to outsource some jobs to local companies, transferring jobs from within Maranello and offer some employees early retirement. He added that the moves would free resources to protect workers on temporary contracts.
Ferrari employs around 3000 people.
Ferrariís first-quarter trading profit in 2010 declined 28 per cent to 39 million euros (£43 million).
It has predicted it will build as many Ferrari cars in 2010 as in 2009, when it built 6250 units, down five per cent on the previous year.