Stellantis offers US workers buyouts in new round of layoffs – San Bernardino Sun

Stellantis NV will offer voluntary buyouts to U.S. workers as the automaker seeks to cut costs amid falling profits. Nonunion U.S. employees at vice president level and below in certain positions can opt into the package. (AP Photo/Carlos Osorio, File)

By Albertina Torsoli and Gabrielle Coppola |Bloomberg

Stellantis NV is offering voluntary buyouts to U.S. employees as the automaker seeks to cut costs amid declining profits.

Non-union U.S. employees at the vice presidential level and below in certain positions can opt in to the package, which is intended to “help those interested in pursuing other career options or retirement,” Stellantis said in a note sent to employees Tuesday and seen by Bloomberg. There will be no minimum service requirement to qualify for the offer, unlike previous programs, the letter said.

A Stellantis spokesperson declined to comment on the total number of layoffs.

Automakers including the maker of Jeep SUVs and Ram pickup trucks are under pressure from weakening demand from consumers plagued by rising costs and massive investments needed to electrify their vehicles. First-half profit fell sharply at the Amsterdam-based automaker as weak demand led to lower vehicle sales in the U.S. and Europe.

CEO Carlos Tavares has pledged to save another €500 million ($540 million) in the second half of the year, compared with the first six months of 2024.

The company also cut about 400 paid engineering jobs in the U.S. earlier this year. Stellantis, which has been increasingly criticized by analysts for its lack of innovative new car models, announced Tuesday that it has begun shipping Chinese-made Leapmotor vehicles to European ports.

The Stellantis letter was previously reported by Automotive News.