Stellantis, owner of Chrysler, to lay off 400 employees

Stellantis, the parent company of Chrysler, is reportedly laying off roughly 400 employees.

The company held meetings with the impacted employees Friday morning, according to the Wall Street Journal, citing unnamed sources.

The layoffs impact primarily workers in engineering, technology and software, and the Journal reported the cuts are part of the company’s efforts to remain competitive in a challenging automotive market.

“The week started with the CEO of Hertz losing his job and ends with hundreds of hard-working Americans losing theirs. In the middle, Joe Biden is gleefully handing down an EV mandate,” Daniel Turner, executive director of Power The Future, said in a statement.

Stellantis has set a goal that 50% of its vehicle sales are electric by 2030.