Fiat closing for 8 days this summer to save money

Employees at Fiat's Mirafiori, Italy headquarters will get an extra eight days of vacation this summer. Fiat says 5,400 work at the office complex where its styling center, engineering operations, sales, marketing, administrative and other functions are housed.

The company said it hopes to save as much as US$1.25 million a day by shutting down June 14-15, June 20-21 and another four days in July. Then, as usual, the HQ will shut down the entire month of August for summer vacation.

During those eight additional vacation days, Fiat workers will still be paid about 80 percent of their normal wage through the country's Cassa Integrazione layoff program.