Welcome to Extreme Investor Network, where we bring you the latest and most comprehensive coverage of business news. Today, we are diving into the recent announcement from automaker Stellantis regarding layoffs at its Warren Truck Assembly Plant in Michigan.
Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers as it discontinues production of the older version of its Ram 1500 pickup truck. This decision comes as the automaker focuses on its newer model introduced in 2018. The current Ram 1500, updated for the 2025 model year, will continue production at a nearby plant.
This move has drawn concerns from local governments, workers, and the United Auto Workers union, as there has been no announcement of a replacement vehicle for the discontinued truck. The layoffs are expected to begin as soon as October, affecting a significant portion of the plant’s current workforce.
Stellantis CEO Carlos Tavares has been leading cost-cutting efforts since the merger with PSA Groupe in January 2021. The company aims to double revenue by 2030 through its “Dare Forward 2030” plan. Recently, Stellantis offered voluntary buyouts to U.S. salaried workers to reduce costs, with potential for involuntary terminations if participation is low.
For a visual representation of Stellantis, GM, and Ford’s share prices, check out the interactive chart above.
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