Giordano Fiorani, the Union official said that the company is planning to stop production in its Maranello factory in Italy where they are looking to cut off employment of 600 workers starting 17 May. This came in the wake that there were less than promising orders from its sister brand Maserati, of which Ferrari is the manufacturer of its engines.

He also said that the production targets have been slashed from 20,000 to 11,000 units. In 2009, they rolled out some 4,500 units of Maserati engines which is half of what they produced a year before and there are no projections of what the figure is like for 2010. According to Ferrari, they are now planning to outsource their ‘non-core’ operations and will focus on areas like product development, technological innovation and reaching new customers and new markets. Hence, they will only be retaining some 100 contract workers.

 

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