KEY TAKEAWAYS Stellantis announced plans to cut a manufacturing shift and lay off around 1,100 workers at an Ohio plant producing the Jeep Gladiator pickup.The company, which is struggling with excess inventory and competition from Chinese rivals,

Jeep maker Stellantis said it is cutting 1,100 jobs at a U.S. factory as it seeks to reduce high inventory levels that have weighed on its performance.The carmaker will lower its production rate at a plant of its assembly complex in Toledo,

Stellantis said on Wednesday it is laying off about 1,100 employees at a Jeep Gladiator plant in Toledo, Ohio, as it works to improve efficiency and reduce inventory across its North American operations.