Stellantis plans to lay off nearly 1,000 workers starting January 5th, shifting to a single-shift operation to address high inventory levels by aligning production with sales. The company noted the layoff's impact on the Gladiator JT line and emphasized that the shift reduction is necessary to improve competitiveness. Affected employees will receive unemployment benefits and healthcare coverage, while the UAW informed members of the WARN notice and job reduction specifics.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Stellantis plans to lay off nearly 1,000 workers starting January 5,
00:06shifting to a single-shift operation to address high inventory levels by aligning production
00:11with sales. The company noted the layoffs impact the Gladiator JT line and emphasized that the
00:16shift reduction is necessary to improve competitiveness. Affected employees will
00:21receive unemployment benefits and healthcare coverage, while the UAW informed members of
00:26the WARN notice and job production specifics.
00:28For all things money, visit Benzinga.com slash GSTV.