12:44 PM EDT, 03/22/2024 (MT Newswires) -- (Updates with details throughout.)

Stellantis NV ( STLA ) is looking to let go of about 400 employees in North America, the company confirmed to MT Newswires Friday.

"After rigorous organizational reviews, Stellantis ( STLA ) confirms that we will reduce our engineering/technology and software organizations by about 2% in the U.S.," a Stellantis ( STLA ) spokesperson told MT Newswires.

Jobs will be eliminated effective March 31, the company noted.

The Wall Street Journal first reported the news.

Stellantis ( STLA ) shares were little changed in trading Friday.

Price: 29.12, Change: -0.09, Percent Change: -0.33