European auto giant Stellantis said Thursday it would lay off 1,100 workers at its Jeep factory in Toledo, Ohio, in an effort to "regain its competitive edge" as it struggles with falling sales.

Stellantis is laying off approximately 1,100 workers at its Jeep plant in Ohio, as the company grapples with surging inventory levels.

Stellantis said the decision was needed to manage output levels to better align with sales as it works to cull a stockpile of unsold vehicles.

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