03:34 PM EDT, 10/04/2024 (MT Newswires) -- (Updates with Stellantis' ( STLA ) response in the third and fourth paragraphs.)

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 internal email from our CFO to the Finance leadership team reinforces controls around purchase requisitions," a Stellantis ( STLA ) spokesperson told MT Newswires. "The 'doghouse' is old financial conduct authority language, referring to projects for which an extra set of eyes and optimized controls are needed."

There will be no effect on existing purchase requisitions, orders or invoices as this is not a new policy, the spokesperson said.

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