• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Stellantis laying off 2,450 plant workers due to discontinuation of Ram ‘Classic’ pickup truck
Editor's Pick

Stellantis laying off 2,450 plant workers due to discontinuation of Ram ‘Classic’ pickup truck

by August 10, 2024
by August 10, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

DETROIT — Automaker Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers later this year as it discontinues production of an older version of its Ram 1500 pickup truck in Michigan.

The truck has been largely used as a low-cost pickup to sell to entry-level buyers and fleet customers since the automaker introduced a new generation of the Ram 1500 in 2018. It is produced alongside the Jeep Wagoneer and Grand Wagoneer at the Warren Truck Assembly Plant, located near Detroit.

The current Ram 1500, which was recently updated for the 2025 model year, is produced at a nearby plant. Operations at that facility will continue as planned.

“With the introduction of the new Ram 1500, production of the Ram 1500 Classic at the Warren [Michigan] Truck Assembly Plant will come to an end later this year,” the company said in an emailed statement.

The discontinuation of the Ram 1500 “Classic” vehicle is not unexpected, but the company has not announced a vehicle to replace the truck. That is concerning for local governments, workers and the United Auto Workers union, which represents the plant.

A spokesman for the union did not immediately respond to CNBC’s request for comment.

Ram CEO Chris Feuell told CNBC last week that the “Classic” version of the pickup would be phased out by the end of this year.

ThWe’ll e layoffs are expected to start as soon as October. The final number of indefinite layoffs at the Warren plant, which currently employs about 3,700 hourly workers, may be lower than the announced numbers. Some employees may be given other jobs or positions at other plants.

The layoffs are the latest for Stellantis, which has cut production at several plants amid sales issues and cost-cutting measures.

Stellantis CEO Carlos Tavares has been on a cost-cutting mission since the company was formed through a merger between Fiat Chrysler and France’s PSA Groupe in January 2021. It is part of his “Dare Forward 2030” plan to increase profits and double revenue to 300 billion euros, or $325 billion, by 2030.

The automaker last week offered a broad voluntary buyout to U.S. salaried workers in an effort to reduce headcount and costs. Stellantis, which reported disappointing first-half results last month, said if not enough employees participate in the buyout, involuntary terminations could follow. 

This post appeared first on NBC NEWS
You Might Also Like
  • Ontario to remove U.S. alcohol from shelves after Trump’s tariffs announcement
  • Harvard’s battle with the Trump administration is creating a thorny financial situation
  • Target CEO addresses price gouging accusations in retail
  • Fanatics will host a skills challenge between fans and celebrities, with $2 million on the line
Share
0
FacebookTwitterPinterestWhatsapp

previous post
RFK Jr. claims to have enough signatures to appear on ballot in all 50 states
next post
Week Ahead: NIFTY Stays Tentative As Defensive Setup Develops; Know These Levels Well

You may also like

Starbucks union votes to authorize strike ahead of last scheduled...

December 18, 2024

Dental supply stock surges on RFK’s anti-fluoride stance, activist involvement

November 19, 2024

New Hampshire city gears up to quadruple its chipmaking for...

December 18, 2023

Kigen and Skylo work together to bring eSIM and satellite...

February 9, 2023

Credit card balances jump and are above $1 trillion for...

August 10, 2023

‘Eat now, pay later’? DoorDash-Klarna deal fuels concerns around loans...

March 25, 2025

Renters’ hopes of being able to buy a home have...

May 8, 2024

TikTok-inspired thefts prompt 17 states to urge recall of Kia,...

April 23, 2023

Summer box office bust? This season’s movie slate could put...

May 9, 2024

Social Security Administration to remove food assistance as barrier to...

March 29, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Inflation is driving up consumer credit...

    September 14, 2023

    Apple hit with more than $1.95B...

    March 5, 2024

    Applebee’s owner plots turnaround to lure...

    May 10, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here