Amid the ongoing United Auto Workers (UAW) strike, automobile giants like Stellantis N.V. STLA, General Motors Company GM, and Ford Motor Company F have reportedly announced significant employee layoffs.
On Monday, Stellantis disclosed the layoff of an additional 570 employees, while General Motors revealed a reduction of close to 200 staff members, according to a report from Reuters.
Ford, on the other hand, announced the layoff of an extra 70 staff in Michigan, accumulating a total of 1,865 layoffs since the inception of the strike, the report added.
Out of the overall layoffs at Stellantis, 520 occurred at their Trenton, Michigan engine production facility, with the remaining 50 taking place at an Indiana casting establishment. The company attributed these layoffs to storage-related issues.
Including the recent layoffs, Stellantis' total number of affected workers now stands at 640.
General Motors has increased its layoff count by 200, affecting a total of 2,300 employees. These layoffs spanned across six plants, including the Lansing, Michigan, stamping unit and a facility in Toledo, Ohio.
The company has also stated that the workers would remain off duty until the strike concludes.
The strike, which was initiated on September 15, has been a significant event in the automobile industry, influencing the operations of multiple major car manufacturers and affecting thousands of employees.
Price Action: GM shares closed higher by 0.29% at $30.99 on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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