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Fiat reportedly planning increased job cuts

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Fiat reportedly planning increased job cuts

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Reports that car giant Fiat is planning higher-than-expected job cuts of 5,000 in Italy have boosted the company’s shares sharply.

Italian newspaper La Repubblica said Fiat would announce the job losses as it unveils its next strategic plan in April.

The cuts would affect car plants in Italy and represent 15 percent of the 30,000 workers employed on assembly lines in the country.