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Report: Slumping demand has Ferrari considering work force reduction, production cuts

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Report: Slumping demand has Ferrari considering work force reduction, production cuts

05/12/2010, 8:04 PM BY DREW JOHNSON

The global auto market may be showing signs of recovery, but slumping demand for high-dollar cars has Ferrari considering layoffs and plant downtime. According to the latest report, Ferrari could slash its workforce by as much as 9 percent.

Labor turmoil started earlier this week, with Ferrari workers walking off the job for four hours. Workers were protesting Ferrari’s plan to cut 120 office positions and 150 factory jobs. Ferrari employs about 3,000 workers.

Additionally, Ferrari plans to idle its Maranello, Italy plant for one week, beginning May 17. The plant shutdown will temporarily layoff 600 Ferrari workers. “Ferrari has to respond to market demands that rise and fall in an ever less-predictable fashion,” the Italian automaker said.

Part of Ferrari’s woes can be blamed on sister company Maserati. Ferrari supplies Maserati with engines for its vehicles, but demand was cut in half last year, with orders falling from 9,000 units in 2008 to just 4,500 units last year.

Ferrari’s first quarter trading profit slipped 28 percent, but the automaker managed to post a $50 million profit.

link:

http://www.leftlanenews.com/report-ferrari-considering-work-force-reduction-production-cuts.html

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