Stellantis offering buyouts to about half its US salaried employees

[Eugene]

Source: Reuters

Stellantis offering buyouts to about half its US salaried employees

David Shepardson
Mon, November 13, 2023 at 3:39 PM EST·2 min read

(Reuters) -Chrysler-parent Stellantis said Monday it is offering 6,400 U.S. salaried employees voluntary buyouts as it works to cut costs amid the transition to electric vehicles and agreeing to a new United Auto Workers contract.

The buyouts would be about half the company's salaried U.S. employees not represented by a union, which is currently 12,700. Another 2,500 Stellantis U.S. salaried workers are unionized and are not being offered the current buyout.

Salaried employees must have at least five years of experience to be offered a voluntary departure package. Employees agreeing to take the incentive would depart before the end of December.

Stellantis said it was taking "necessary structural actions to protect our operations and the company" and cited preparations "for the transition to electric vehicles."

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Read more: https://finance.yahoo.com/news/stellantis-offering-6-400-us-203935455.html

[ret5hd]

1. Translation to logical deductions here:

Chrysler-parent Stellantis said Monday it is admitting it hired 6,400 unnecessary U.S. salaried employees, but continues to insist they are much smarter than those stupid union people who they can’t fire because they are actually needed.