01:57 PM EDT, 08/09/2024 (MT Newswires) -- Stellantis ( STLA ) has warned union workers that it could lay off as many as 2,450 of the 3,700 union members at a truck plant in Warren, Michigan, the Associated Press reported Friday.

The Warren plant builds an older version of the Ram 1500 pickup called the Tradesman, but the company came out with a new version of the truck in 2018. There's a new Tradesman, according to the report, and its production will move to the assembly plant in Sterling Heights, Michigan.

The company expects that some of the job cuts will not occur because of early retirement offers and seniority bumping rights, Stellantis ( STLA ) spokeswoman Jodi Tinson told the AP. Layoffs could start by Oct. 8, Tinson told the AP.

(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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