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Chrysler-parent Stellantis providing buyouts to 33,500 U.S. workers

Carlos Tavares, Chief Govt Officer of Stellantis, poses throughout a presentation on the New York Worldwide Auto Present, in Manhattan, New York Metropolis, April 5, 2023.

David Dee Delgado | Reuters

DETROIT – Stellantis is providing voluntary buyouts to greater than 33,500 U.S. salaried and hourly workers, as the worldwide automaker makes an attempt to chop prices and headcount.

The buyouts will probably be provided to 31,000 hourly workers with no less than one yr of employment and a couple of,500 salaried non-union U.S. workers who’ve 15 or extra years with the corporate, the automaker mentioned Wednesday.

“In response to at this time’s more and more aggressive world market circumstances and the required shift to electrification, Stellantis is totally reviewing its North American operations to enhance effectivity, cut back prices and defend the competitiveness of our merchandise to permit for additional strategic investments to help our transformation,” the corporate mentioned in a press release.

The buyouts are the most recent cuts for the U.S. auto trade. General Motors earlier this yr provided buyouts to a majority of its salaried employees following performance-related layoffs.

Stellantis earlier this yr idled a Jeep plant in Illinois, inserting about 1,200 staff on indefinite layoffs.

This can be a growing story. Please examine again for extra updates.

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