Results for: Global auto market

Stellantis, the parent company of Jeep, has announced plans to lay off an unspecified number of workers at its U.S. factories in the coming months to address the rapidly changing global auto market and the transition to electric vehicles. Despite reduced U.S. sales in the first quarter and increased capital spending, the company aims to improve productivity and ensure long-term sustainability. Details regarding the start of layoffs and specific reasons were not disclosed, but Automotive News reported recent layoffs at a Ram pickup truck factory in Michigan. CEO Carlos Tavares emphasizes the need for cost-cutting measures to make electric vehicles affordable for the middle class.

Stellantis, the parent company of Jeep, announced plans to lay off an unspecified number of workers at its U.S. factories in the coming months. This decision stems from a rapidly changing global auto market and increased capital spending for the transition to electric vehicles. Despite recent declines in U.S. sales and higher labor costs, Stellantis emphasized that these actions are necessary to enhance productivity and ensure long-term sustainability. While exact details and reasons for the layoffs remain undisclosed, Automotive News reported that 199 workers were laid off at the Ram pickup truck factory in Michigan.