Fiat plans mass sackings and plant closures throughout Europe

[Hannah Bell]

Last week, the Italian car company Fiat presented its plans for taking over General Motors’ German auto division Opel as part of its acquisition of the insolvent Chrysler company. The plan it presented to the German government, as well as to the Opel betriebsrat (works council), includes the destruction of at least 10,000 jobs, as well as factory closures at Vauxhall in England and at Fiat plants in Italy and Poland.

Mass sackings are also planned at Opel plants in Kaiserslautern, Bochum, and Rüsselsheim in Germany, at Saragossa in Spain, at the Antwerp factory in Belgium and at Saab’s Trollhättan works in Sweden...

http://www.wsws.org/articles/2009/may2009/fiat-m12.shtml


Impoverish the workers = global agenda.

[leftstreet]

1. Key paragraph sums it all up...

snip

Sergio Marchionne is a typical representative of the layer of financial managers, who run industrial enterprises as if they were hedge funds, i.e., buying up enterprises, slashing labour costs and then selling them again in order to pay back the debts of the investment funds and to increase the wealth of the financial backers.

[Hannah Bell]

2. yep. tank the value, buy it cheap, fire everyone, sell off the pieces high.

displace individuals, families, destroy towns & cities, literally ruin people's lives & kill them. destroy their hope, their dreams, their history, their support systems.

god i hate those fuckers.

[sam sarrha]

3. what will the "Buzz Word" be this time... ??