plant closures

Stellantis Plant Closures: Tariffs, Poor Quality, and a Failing Strategy

In response to newly implemented 25% automotive tariffs, Stellantis has temporarily suspended production at its Windsor (Canada) and Toluca (Mexico) assembly plants for two weeks and one month, respectively. This decision, impacting approximately 4,500 Canadian and an unspecified number of Mexican hourly workers, also resulted in the temporary layoff of roughly 900 U.S. support staff. The production halt, impacting models like the Chrysler Pacifica and Jeep Compass, aims to mitigate the impact of the tariffs and reduce excess inventory. Stellantis’ stock experienced a significant 9.4% drop following the announcement.

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U.S. Steel Warns of Plant Closings if Sale Collapses

The recent news of U.S. Steel warning of potential plant closings if the sale collapses paints a grim picture of mismanagement and desperation within the company. The revelation of a $500 million share buyback in 2023, coupled with a significant one in 2021, points to a company in dire need of financial infusion due to poor decision-making by its executives. It is appalling to see CEOs and board members reaping substantial paychecks while driving the company into the ground.

The whole ordeal reeks of corporate greed and selfishness. Executives should be rewarded for steering a company towards success, not for leading it towards the brink of collapse.… Continue reading