Dodge-parent Stellantis laying off hundreds of US workers
Stellantis continues trimming its workforce as it focuses on electric vehicle production in the US
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Stellantis, the parent company of several auto brands, including Dodge, Jeep and Chrysler, confirmed on Friday that it will be laying off hundreds more U.S. workers as it continues to trim its workforce amid its transition to electric vehicle production.
The Wall Street Journal reported that the automaker had instructed several white collar employees working in software, engineering and technology to work from home on Friday morning, and then held meetings where the workers were informed that they were losing their jobs.
A Stellantis sign is seen outside its headquarters in Auburn Hills, Michigan, June 10, 2021. (REUTERS/Rebecca Cook / Reuters Photos)
Around 400 people were let go in the latest layoff round, the Journal reported, citing internal Stellantis documents viewed by the newspaper.
The automaker confirmed the layoffs when reached by FOX Business for comment.
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"After rigorous organizational reviews, Stellantis confirms that we will reduce our engineering/technology and software organizations by about 2% in the U.S.," the company's statement read. "These reductions will be effective on March 31, 2024. Stellantis will offer support for those affected including a comprehensive separation package and transition assistance."
Stellantis CEO Carlos Tavaras delivers a keynote address in front of Stellantis' Ram 1500 Revolution battery-electric concept pickup truck that was introduced during CES 2023 at The Venetian Resort Las Vegas on January 5, 2023, in Las Vegas, Nevada. (Ethan Miller/Getty Images / Getty Images)
The company added, "While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive and our Dare Forward 2030 strategic plan."
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Stellantis' "Dare Forward 2030" strategy includes the launch of eight new EVs.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| STLA | STELLANTIS NV | 12.81 | +0.20 | +1.63% |
Stellantis NV
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The company has held multiple rounds of layoffs over the past year and offered voluntary buyouts to more than half its 12,700 salaried employees in the U.S. last year in a move to cut costs as it moves its focus to EVs and takes on increased costs from its new contract with the United Auto Wokers union.
FOX Business' Grady Trimble and Eric Revell contributed to this report.