Stellantis Announces New Voluntary Buyouts for U.S. Salaried Workers

Jeep-maker Stellantis has announced another round of voluntary buyouts for its U.S. salaried workers. This is part of CEO Carlos Tavares' cost-cutting measures aimed at addressing inventory backlog and weakened margins in the U.S. market. Detailed information will be provided to eligible employees in mid-August.

Jeep-maker Stellantis announced on Tuesday another round of voluntary buyouts for its U.S. salaried workers, as part of a series of cost-cutting measures implemented by CEO Carlos Tavares to address issues in its American operations.

The Netherlands-based automaker previously laid off 400 U.S. salaried workers in March and has twice offered buyouts to thousands of employees. Tavares has expressed concern over the company’s backlog of inventory and weakened margins in the U.S. market during recent conversations with analysts.

'As Stellantis continues to address inflationary pressures and, importantly, provide consumers with affordable vehicles at the highest quality, we remain focused on necessary actions to reduce our costs to protect the long-term sustainability of the company. One of those actions is offering a voluntary separation package to U.S. employees in certain functions,' a Stellantis spokeswoman said Tuesday. Detailed information will be provided to eligible employees in mid-August, she added.