financetom
Business
financetom
/
Business
/
Stellantis laying off about 400 US workers, citing 'unprecedented uncertantities'
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Stellantis laying off about 400 US workers, citing 'unprecedented uncertantities'
Mar 22, 2024 10:55 AM

(Reuters) -Chrysler parent Stellantis ( STLA ) said on Friday it will lay off about 400 U.S. salaried workers as it seeks to cut costs, boost efficiency and ramp up electric-vehicle production plans.

The Italian-American automaker said it is reducing its engineering/technology and software organizations by about 400 U.S. jobs effective March 31, which represents 2% of those jobs worldwide. Last year, Stellantis ( STLA ) twice offered buyouts to groups of U.S. workers, including giving 6,400 U.S. salaried employees a financial incentive to depart in November.

The company said, "As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis ( STLA ) continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure."

Both Ford Motor and General Motors have vowed further cost costs and cut some jobs over the last year.

Earlier this month, United Auto Workers President Shawn Fain said Stellantis ( STLA ) had terminated 2,000 temporary workers, criticizing the decision as "about corporate greed." He noted that under the UAW contract reached with Stellantis ( STLA ) last, around 3,000 temporary workers were converted to permanent jobs.

Stellantis ( STLA ) in December said it would temporarily cut one shift at its Detroit assembly plant that builds Jeep sport utility vehicles and reduce production at its Toledo, Ohio, assembly plant that builds the Jeep Wrangler.

Stellantis ( STLA ) cited preparations "for the transition to electric vehicles" last year in offering buyouts after telling employees earlier that a review of the company's operations "made it clear that we must become more efficient."

Stellantis ( STLA ) plans to offer at least 25 battery-electric models in the United States by 2030.

The company did not disclose how many employees offered to take buyouts but said in February its North American workforce had fallen to 81,341 at the end of 2023, compared with 88,835 a year earlier.

Under the UAW contract, the company agreed to offer $50,000 buyouts for veteran production and skilled trade members in 2024 and 2026.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tesla Stock Jumps On Strong Q2 Deliveries
Tesla Stock Jumps On Strong Q2 Deliveries
Jul 2, 2025
Tesla Inc ( TSLA ) shares are trading higher Wednesday morning after the company released its second-quarter production and delivery results for 2025. Here’s what investors need to know. What To Know: The electric vehicle leader announced it produced 410,244 vehicles and delivered 384,122 globally. The popular Model 3/Y vehicles accounted for the vast majority of these figures, with 373,728...
High Roller Technologies Forms Content Partnership With Gaming Realms
High Roller Technologies Forms Content Partnership With Gaming Realms
Jul 2, 2025
10:03 AM EDT, 07/02/2025 (MT Newswires) -- High Roller Technologies ( ROLR ) said Wednesday that it formed a content partnership with Gaming Realms, which develops, publishes and licenses mobile gaming content. High Roller said it will add Gaming Realms' content to its online casino library in Ontario. No financial details were disclosed. High Roller said it expects to start...
INSIGHT-Inside the airline seat industry crisis delaying jet deliveries
INSIGHT-Inside the airline seat industry crisis delaying jet deliveries
Jul 2, 2025
* Airline seat industry hit by industrial and regulatory delays * Pressure for cabin customisation creates industrial headaches * Seat makers simplify underlying designs, turn away some business * Top leasing firm tells airline CEOs to stop designing new seats By Tim Hepher CWMBRAN, Wales, July 2 (Reuters) - Tucked beneath the armrest of a luxury business class seat in...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2025 - www.financetom.com All Rights Reserved