11:23 AM EDT, 10/04/2024 (MT Newswires) -- Stellantis ( STLA ) is implementing a "doghouse" belt-tightening approach to put stricter limits on external spending and conserve finances, The Wall Street Journal reported Friday, citing an email from Chief Financial Officer Natalie Knight.

Knight asked the finance team to stringently vet requests for purchases from external vendors in an attempt to reduce expenses, according to the report.

The doghouse "is the name for much stricter attention and control around purchase requisitions," Knight reportedly wrote in the email. "If we apply more discipline, we can ensure big savings for the company."

The policy will not impact existing purchase requisitions, purchase orders or invoices, according to the report.

Stellantis ( STLA ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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