Chrysler parent Stellantis offering buyouts to 33,500 U.S. employees
DETROIT — Stellantis is offering voluntary buyouts to about 33,500 U.S. employees, as the global automaker attempts to cut costs and head count.
The buyouts will be offered to 31,000 hourly employees with at least one year of employment and 2,500 salaried, nonunion employees who have 15 or more years with the company, the automaker said Wednesday. The company also is extending buyout offers to some employees in Canada, but did not disclose that number.
"In response to today's increasingly competitive global market conditions and the necessary shift to electrification, Stellantis is thoroughly reviewing its North American operations to improve efficiency, reduce costs and protect the competitiveness of our products to allow for further strategic investments to support our transformation," the company said in a statement.
The buyouts are the latest cuts for the auto industry. General Motors earlier this year offered buyouts to a majority of its salaried employees following performance-related layoffs, while Ford Motor recently announced significant job cuts in Europe.
Stellantis earlier this year also idled a Jeep plant in Illinois, placing about 1,200 workers on indefinite layoffs. Those employees were told they would be prioritized to fill needed positions vacated through the buyouts.
