Stellantis laying off 2,450 workers due to discontinuation of Ram pickup truck

From CNBC: 2024-08-09 14:37:15

Stellantis to lay off up to 2,450 U.S. factory workers as it discontinues older Ram 1500 pickup truck production in Michigan. Company plans to end Classic version, concerns arise over replacement. Layoffs may start in October, affected workers could be reassigned or shifted to other plants.

Ram 1500 Classic being phased out by the end of the year, uncertainties remain around replacement vehicle. Stellantis CEO Tavares implements cost-cutting measures post-merger, aims to double revenue by 2030. Automaker offers voluntary buyouts to U.S. salaried workers to reduce headcount and costs.

Stock prices of Stellantis, GM, and Ford expected to see impact as layoffs and cost-cutting measures come into effect. Operations at Michigan plant producing Ram 1500 to continue as normal. Local governments, workers, and union express concerns over potential job losses in the area.



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