Fiat May Shrink European Management Ranks 20%

Fiat SpA is eliminating 110 of 550 management positions in Europe at its Fiat, Alfa Romeo and Lancia brands in an effort that began in June, Bloomberg News reports.

Unidentified sources tell the news service that about 100 of job cuts will be in Italy. It is unclear Fiat is offering buyouts or dismissing employees.

Labor leader Roberto Granatelli says his union has been working with Fiat on the "controlled hemorrhage."

The company said in August it aimed to reduce costs with temporary layoffs instead of permanent cuts.