It covers pension-eligible workers
Automaker Stellantis has announced that it is offering a select group of workers buyouts as part of the company's voluntary retirement programme amid its shift to electrification. The automotive manufacturer said in a statement that it is taking an aggressive step forward to become the "market leader in low emission vehicles."
"To assist in our transition, and to align our business priorities to a new set of critical skills and investment opportunities, Stellantis North America is offering a voluntary retirement programme to eligible members of our team," it said in a statement quoted by CNBC.
The buyouts are offered to employees who are eligible to retire, such as staff aged 55 and above who have been with the company for 30 years. It also covers employees aged 58 and above with 10 years of service for Stellantis. Unionised-salaried workers are not included in the groups who are eligible to receive the buyouts, according to CNBC's report.
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The company said in a message to reporters that the buyout programme will run until the end of November. The company did not comment on the number of employees covered by its plan, nor if it has a target number of workers in mind. The company has around 14,000 domestic salaried employees, according to reports. It owns well-known brands such as the Jeep, Peugeot, and Maserati, among others.
Other automakers have also been offering buyouts to staff due to different factors. GM offered its employees a similar programme in 2018 due to the intense competition in the industry. Ford, on the other hand, also announced a buyout programme in August in a move to "reshape" its workforce.
