Stellantis to offer broad buyouts to U.S. salaried workers, warns of possible layoffs
DETROIT — Automaker Stellantis plans to once again reduce its U.S. employee headcount through a broad voluntary buyout, as the company attempts to reduce costs and boost profits.
DETROIT — Automaker Stellantis plans to once again reduce its U.S. employee headcount through a broad voluntary buyout, as the company attempts to reduce costs and boost profits.
In an email to employees Tuesday morning, the company said it would offer a voluntary separation program to non-union U.S. employees at the vice president level “and below in certain functions.”
The company, which reported disappointing first-half results last week, said if not enough employees participate in the buyout program, involuntary terminations could follow. The message said eligible employees will be sent an email in mid-August with instructions on how to access their individualized offers.
Stellantis confirmed the buyout program, which was first by Automotive News, early Tuesday afternoon.
“As Stellantis continues to address inflationary pressures and, importantly, provide consumers with affordable vehicles at the highest quality, we remain focused on taking the necessary actions to reduce our costs to protect the long term sustainability of the company,” the company said in an emailed statement.
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