Jeep maker Stellantis to lay off an unspecified number of factory workers in the coming months

Jeep maker Stellantis is planning to lay off an unspecified number of workers at its U.S. factories in the coming months to deal with a rapidly changing global auto market, the company said Tuesday. The statement comes as Stellantis faces increased capital spending to make the transition from gasoline vehicles to electric autos. It also has reported declining U.S. sales in the first quarter, and it has higher costs due to a new contract agreement reached last year with the United Auto Workers union. Stellantis has about 43,000 factory workers. The moves will improve productivity and ensure the company's long-term sustainability in a fast-changing business, Stellantis said.