Stellantis providing buyouts to pension-eligible U.S. salaried staff

DETROIT – Automaker Stellantis, previously Fiat Chrysler, is providing voluntary buyouts to pension-eligible U.S. salaried staff, the corporate confirmed Monday.

To be eligible, staff should be not less than 55 years outdated and have been with the corporate for 30 years or be not less than 58 years outdated with 10 years of employment. Unionized-salaried staff aren’t eligible for the buyouts, which have been initially despatched out on the finish of October.

A Stellantis spokeswoman declined to say how lots of the firm’s greater than 14,000 home salaried staff are eligible for this system, or whether or not the automaker has a goal for what number of staff it wish to take the packages.

The staff being supplied the packages are already eligible to retire. The corporate cited the buyouts as a method to help in its pivot to focus extra on electrical automobiles.

“Stellantis is aggressively shifting ahead on its journey to turn out to be the market chief in low emission automobiles,” the corporate mentioned in an emailed assertion. “To help in our transition, and to align our enterprise priorities to a brand new set of crucial abilities and funding alternatives, Stellantis North America is providing a voluntary retirement program to eligible members of our staff.”

The focused affords, which have been first reported by Automotive Information, are the latest as U.S. automakers transition to electrical automobiles. Ford Motor has supplied buyouts to salaried staff not less than twice since 2020. GM additionally introduced buyouts in 2018 as a part of a restructuring.

Stellantis has 14 manufacturers, together with Jeep, Ram, Opel, Fiat, Peugeot and Maserati. Throughout the occasion, it highlighted electrical plans for a number of of its manufacturers. It was shaped by way of a $52 billion merger between Fiat Chrysler and PSA Groupe in January.