Stellantis Layoffs: 1,400 Jobs Could Be Slashed In France

Up to 1,400 Stellantis (STLA) jobs in France may be cut this year as the automaker looks to adjust to the changes in the auto industry.

Three union sources told Reuters about the potential layoffs a day before Stellantis management and unions are set to discuss worker pay and employment conditions.

In 2021, Stellantis cut 1,380 jobs in France through voluntary redundancies, according to Reuters. The three sources for the news outlet said the job cuts in France would be similar in count for 2022.

“We are looking at the continuation of the same measures this year,” one source said. “It should be, again, on average 1,300 to 1,400 redundancies this year.”

The cuts come a year after the creation of the French-Italian-American automaker and amid a growing shift in consumer demand toward electric vehicles.

Stellantis has said it plans to invest more than €30 billion through 2025 on electrification and software strategies for the brands under its umbrella. The automaker said it has 33 EVs available now and will launch eight more electrified vehicles in the next 18 months.

As of Monday at 1:37 p.m. EST, shares of Stellantis were trading at $19.17, down 3 cents, or 0.18%.