Some Stellantis Workers Could Get Up to $72,000 In Voluntary Buyout Offer
Stellantis didn’t have the best end to 2024, cutting thousands of jobs under its previous CEO, Carlos Tavares. While Tavares’ time at the automaker came to an end in December, the company still finds itself in cost-cutting mode and recently offered buyouts to hourly employees at more than 20 locations.
Stellantis didn’t have the best end to 2024, cutting thousands of jobs under its previous CEO, Carlos Tavares. While Tavares’ time at the automaker came to an end in December, the company still finds itself in cost-cutting mode and recently offered buyouts to hourly employees at more than 20 locations.
The buyouts are available to workers in Michigan and Ohio who have been employed by the company for at least one year. Those with less than 15 years on the job are eligible for up to $50,000, and workers with more than 25 years receive the maximum amount of up to $72,000. Stellantis will also cover six months of medical coverage.
While the voluntary terminations could save Stellantis some in the short term, they come with significant risks. Many of the employees work on top-selling models like the Ram 1500 and Jeep Grand Cherokee. That said, the automaker hasn’t said how many employees it wanted to shed or which facilities would be most impacted.
Stellantis gave workers until May 8 to accept the offer, though management can approve or deny individual requests “based on business needs.” Workers who accept will begin leaving the automaker as soon as a week after the offer is approved, and the process will extend through the end of September.
[Images: Stellantis]
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