Stellantis Offers Buyouts in Latest Big-Three Cuts
Jeep maker will provide packages to salaried workers with five or more years with company.
Stellantis is unveiling the Ram 1500 Ramcharger battery-electric truck in the 2025 model year as it moves toward EV production.
IMAGE: Stellantis
Chrysler parent Stellantis is offering buyout packages to half of its U.S. salaried workers in its second round of employee cuts since April as it targets savings to prepare for electric-vehicle production, absorb recent union wage hikes, and position itself to weather challenging economic conditions.
The approximately 6,400 workers can opt to leave the company or retire early, according to news reports. They must have at least five years of experience to qualify for a buyout.
In April, Stellantis offered buyouts to more than 33,000 workers, mostly in the U.S., as it targeted a workforce reduction of about 3,500.
Stellantis, one of the “big three” automakers in the U.S., though it’s headquartered in Amsterdam, agreed to a new United Auto Workers union contract last month that includes 25% wage increases, as did the other two Detroit-area automakers. UAW President Sean Fain said Stellantis planned to add 5,000 jobs, while before the strikes it had targeted 5,000 job cuts.
Ford and General Motors, which round out the big three, have also cut their workforces this year. Ford announced layoffs in February and June. GM offered buyouts to most salaried employees in March to help cut $2 billion in costs, and later in the spring moved to eliminate hundreds of contracted positions.
Originally posted on Auto Dealer Today
More Showroom
New-Vehicle Prices Stay Put
Affordability pressures and model availability shaped new-vehicle sales in September, according to an analysis by Kelley Blue Book.
Read More →
EV Buyer Consideration Shifts
What drives American consumers to purchase an electric vehicle is shifting as the question moves away from Should I?' to 'Which features and experience do I want to have?'
Read More →
Year-to-Date Auto Sales Holding Their Own
A forecast through August shows that automakers have shifted strategies to keep deliveries and revenues up despite tariffs and other economic challenges.
Read More →
Slow to Robo
Ten years of polling consumers shows autonomous vehicles’ profiles have risen considerably, but even more people now want at least some level of control if they go that route.
Read More →
Dealers a Little Down
A third-quarter Cox Automotive survey finds them in a mixed mood, bummed by fallen customer traffic but encouraged by better profits, costs and EV interest.
Read More →
European EV Sales Skyrocket
The EV market on the continent held strong in July with almost 25% of new-car sales being fully electric units, a stark contrast to the U.S., where EV sales declined about 42%.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
Read More →
Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
Read More →
California Hybrids Reach State Record
The Golden State still leads the country in electric-vehicle registrations, but much like the rest of the U.S. its hybrid market share is up while full electrics stabilize after a dramatic first-quarter dip.
Read More →