Italian carmaker Fiat on Tuesday denied a German press report saying it would slash jobs and close plants under plans for a deal with Opel.
Frankfurter Algemeiner Zeitung said Fiat would cut some 18,000 jobs and 10 assembly and component sites at a combined Fiat/Opel company including both Vauxhall plants in England and two Fiat factories in Italy.
Fiat issued a statement saying the information in the report, “does not come from Fiat and is not part of any plan prepared by the company.”
Fiat CEO Sergio Marchionne met German officials on Monday to discuss an offer for Opel, the German unit of General Motors. (Reuters)