financetom
Business
financetom
/
Business
/
Update: Stellantis Notifies Union of Thousands of Potential Job Cuts at Detroit Plant
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Update: Stellantis Notifies Union of Thousands of Potential Job Cuts at Detroit Plant
Aug 9, 2024 12:36 PM

03:17 PM EDT, 08/09/2024 (MT Newswires) -- (Updates with additional details and attempts to reach out to the union.)

Stellantis ( STLA ) has notified concerned parties, including union members that it could lay off as many as 2,450 of the 3,700 workers at its plant in Warren, Michigan, a company spokesperson confirmed to MT Newswires.

However, 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 MT Newswires. Layoffs could start by Oct. 8, Tinson said.

The layoffs were earlier reported by the Associated Press and Reuters.

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 for the 2025 model year and its production will move to the assembly plant in Sterling Heights, Michigan, the Associated Press reported. Due to this, Warren Truck Assembly will move from a two-shift to a single-shift pattern in general assembly, resulting in the layoff of one shift of workers at the facility.

Jeep Wagoneer production at the same facility will continue with two shifts, Reuters reported.

The union did not immediately respond to MT Newswires' request for comment.

Price: 15.30, Change: -0.23, Percent Change: -1.45

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 >
Hurricane Francine disrupts Louisiana energy hubs, crop exports
Hurricane Francine disrupts Louisiana energy hubs, crop exports
Sep 11, 2024
* Ports in Louisiana, including deepwater LOOP, shut * Six Louisiana oil refineries slow operations * Exxon's Baton Rouge cuts rates to 20% * Cotton at risk from heavy rain and flooding * Crop shipments to the Mississippi Gulf region disrupted (Adds latest offshore oil, gas output declines, analyst comment on extent of disruption in paragraphs 6-8) By Marianna Parraga,...
-- Blackline Safety Brief: For McKinsey,
-- Blackline Safety Brief: For McKinsey, "Rule of 40" says that a SaaS Company's Growth Rate When Added To Its Free Cash Flow Rate Should Equal 40% or Higher
Sep 11, 2024
03:19 PM EDT, 09/11/2024 (MT Newswires) -- Price: 5.02, Change: +0.32, Percent Change: +6.81 ...
Genesis Energy Undergoing Transition, Production Issues Expected to Improve by 2025, RBC Says
Genesis Energy Undergoing Transition, Production Issues Expected to Improve by 2025, RBC Says
Sep 11, 2024
04:05 PM EDT, 09/11/2024 (MT Newswires) -- Genesis Energy (GEL) is in a transition phase, with issues at deepwater facilities and soda ash production expected to improve by 2025, supported by upcoming offshore projects, RBC Capital Markets said in a note emailed Wednesday. Genesis Energy reduced its 2024 adjusted EBITDA guidance by 10% due to production issues to between $625...
Sector Update: Consumer
Sector Update: Consumer
Sep 11, 2024
03:28 PM EDT, 09/11/2024 (MT Newswires) -- Consumer stocks were mixed late Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) dropping 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.6%. In corporate news, Rentokil Initial ( RTO ) shares tumbled 21% after the company cut its North American organic revenue growth guidance to 1%...
Copyright 2023-2026 - www.financetom.com All Rights Reserved