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Stellantis NV (NYSE: STLA) announced temporary layoffs and production halts in North America due to new tariffs imposed by the U.S. government, which affected the auto industry and stock performance. The company plans to lay off 900 workers across five facilities in the United States.
Stellantis NV to Layoff 900 Workers in the US
Stellantis NV has recently announced a temporary layoff of 900 workers across five facilities in the United States. Additionally, the company has decided to suspend operations at its assembly plants in both Mexico and Canada.
This decision follows the introduction of new tariffs by U.S. President Donald Trump, which include a 10% tariff on all imports and a 25% tariff specifically targeting auto imports. These tariffs have caused considerable disruption within the global auto industry, prompting significant operational changes among major automakers.
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Auto Stocks Crash Following New Tariffs
Following the announcement of these tariffs, shares of major automakers, including Stellantis, Ford (NYSE: F), General Motors (NYSE: GM), and Tesla (NASDAQ: TSLA), have experienced a sharp decline.
Stellantis’ stock, in particular, has seen notable fluctuations, with a previous close at $10.21. The latest premarket price dropped further to $9.49, close to the 52-week low of $10.16.
Despite these challenges, the company maintains a dividend yield of 6.97% and a recommendation key of “Buy,” indicating some investor confidence in its long-term prospects. Union leaders have criticized the layoffs, arguing they are unnecessary given Stellantis’ resources, while the White House insists that the tariffs will eventually benefit U.S. industries and workers.
Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
About the author
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird’s US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
