Fiat says will axe up to 15 pct of jobs at CNH

MILAN: Italian auto group Fiat said on Thursday that it would cut up to 4,600 jobs at its loss-making US subsidiary CNH, an agricultural and construction equipment maker that employs around 31,000 people.

Fiat's chief executive Segio Marchionne told a telephone news conference about the planned cuts without saying when they would take place.

A Fiat spokesman said CNH employed more than 31,500 people as of late 2008, so the number of jobs affected could reach 4,600.