Automaker Stellantis NV (STLA) is laying off workers at its assembly plants in Windsor and
Brampton Ontario.
The exact number of employees being let go wasn’t announced, but the Dutch automaker said
the workforce reduction is needed as it seeks operational efficiencies in its transition to electric
vehicles.
Stellantis was formed in 2021 through a merger between Italian-American conglomerate Fiat
Chrysler Automobiles and the French PSA Group. Its vehicle brands include Chrysler, Jeep,
Dodge and Ram.
The company based in Hoofddorp, Netherlands said it will offer retirement incentives to eligible
employees and will place laid-off hourly employees into full-time positions when they come
open.
The workforce reductions at the two Ontario plants will take place over the next several months,
the company said.
The job cuts come as Stellantis makes major investments in electric vehicle production,
including a $3.6 billion upgrade to the Brampton and Windsor assembly plants.
Stellantis and LG Energy Solution are also building a $5 billion battery factory in Windsor,
Ontario as part of the company's plans to invest $45 billion globally by 2025 on electrifying its
automotive fleet.
Stellantis stock is down 26% this year and trading at 12.87 Euros per share.
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