Ford to cut 14% of European workforce amid weak demand for EVs [Yahoo! Finance]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Yahoo! Finance
vehicles, poor government support for the shift to EVs and competition from subsidized Chinese rivals. The U.S. automaker is the latest, after Nissan, Stellantis and General Motors, to cut costs as the industry faces challenges that include EVs that are too expensive for consumers to buy. Ford said the 4,000 job cuts would be primarily in Germany and the United Kingdom. Globally, the layoffs represent around 2.3% of Ford's workforce of 174,000. The measures will be a big blow for Germany in particular, Europe's largest economy, where the region's biggest car maker Volkswagen is threatening to close factories, slash wages and cut thousands of jobs to allow it to compete better. Germany's deepening political crisis has added uncertainty for companies grappling with growing trade tensions with China and implications of the U.S. presidential election victory of Donald Trump. Ford said the European layoffs should take place by the end of 2027, pending discussions with unions. The
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STLA
News
- Fiat Makes Fashion Statement With Newest 500e EV [Forbes]Forbes
- German giant Bosch becomes latest firm to give employees unwanted 4-day week as economy falters [Yahoo! Finance]Yahoo! Finance
- German giant Bosch becomes latest firm to give employees unwanted 4 day week as economy falters [Fortune]Fortune
- Vacationing in Iraq, mysterious chemical in water, Jeep's downward spiral: Catch up on the day's stories [CNN]CNN
- Stellantis faces lawsuit over 'spontaneous fire risk' in some Jeeps [USA TODAY]USA TODAY
STLA
Sec Filings
- 11/22/24 - Form 6-K
- 11/8/24 - Form 144
- 10/31/24 - Form 6-K
- STLA's page on the SEC website