Carlos Tavares, Chief Executive Officer of Stellantis, poses during a presentation at the New York International Auto Show, in Manhattan, New York City, April 5, 2023.
DETROIT – Chrysler-parent Stellantis is offering buyouts to roughly half of its U.S. white-collar employees to reduce headcount and cut costs for the automaker’s North American operations.
The voluntary separation packages will be offered to 6,400 of its 12,700 non-bargaining unit U.S. employees, the company said Monday.
“As the U.S. automotive industry continues to face challenging market conditions, Stellantis is taking the necessary structural actions to protect our operations and the Company,” Stellantis said in an emailed statement. “As we prepare for the transition to electric vehicles, Stellantis announced today that it will offer a voluntary separation package to assist those non-represented employees who would like to separate or retire from the Company to pursue other interests with a favorable package of benefits.”
Stellantis North American Chief Operating Officer Mark Stewart informed employees Monday of the program, which was first reported by The Wall Street Journal.
This marks the second round of salaried buyouts this year for Stellantis. In April, the company extended voluntary buyouts to about 33,500 U.S. employees, including 31,000 hourly employees with at least one year of employment and 2,500 salaried, nonunion employees who had 15 or more years with the company.
The latest buyouts come weeks after the automaker struck a tentative deal with the United Auto Workers for new labour contracts covering its unionized workers.
This is breaking news. Please check back for additional updates.
