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,

The move from two to one shifts does not come as a surprise, with the pickup's sales slowing this year and the automaker trying to slash inventories.

The layoffs are effective as early as Jan. 5, 2025. The automaker called it a “necessary action to reduce high inventory levels.”