The layoffs are effective as early as Jan. 5, 2025. The automaker called it a “necessary action to reduce high inventory levels.”

Jeep maker Stellantis said it is cutting 1,100 jobs at a U.S. factory as it seeks to reduce high inventory levels that have weighed on its performance.

Stellantis has announced it will cut one production shift and lay off approximately 1,100 workers at its Toledo South Assembly Plant in Ohio

KEY TAKEAWAYS Stellantis announced plans to cut a manufacturing shift and lay off around 1,100 workers at an Ohio plant producing the Jeep Gladiator pickup.The company, which is struggling with excess inventory and competition from Chinese rivals,

(NYSE: STLA) announced Wednesday the layoff of approximately 1,100 workers at its Toledo, Ohio facility that produces the Jeep Gladiator. The decision, effective January 5, will reduce

The move from two to one shifts does not come as a surprise, with the pickup's sales slowing this year and the automaker trying to slash inventories.

Stellantis said on Wednesday it is laying off about 1,100 employees at a Jeep Gladiator plant in Toledo, Ohio, as it works to improve efficiency and reduce inventory across its North American operations.

Automaker Stellantis announced plans Wednesday to cut a manufacturing shift and indefinitely lay off roughly 1,100 workers at a Jeep plant in Ohio.

Stellantis will indefinitely lay off 1,100 union-backed workers at its Toledo South Assembly Plant, the automaker announced.