DETROIT – Jeep-maker Stellantis (NYSE: STLA) said on Tuesday it is offering a new round of voluntary buyouts to its U.S. salaried workers, the latest in a series of cost-cutting measures CEO Carlos Tavares is placing on its American operations.
The Netherlands-based automaker laid off 400 U.S. salaried workers in March and previously extended buyout offers to large groups of U.S. workers on two occasions last year.
Stellantis’ (NYSE: STLA) backlog of inventory and weakened margins in the U.S. market have been a concern point for Tavares in 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 taking the necessary actions to reduce our costs to protect the company’s long-term sustainability. One of those actions is offering a voluntary separation package to U.S. employees in certain functions,” a Stellantis spokeswoman said Tuesday.
More detailed information will be provided to eligible employees in mid-August, she added.
Automotive News earlier reported that buyouts were offered to Stellantis employees.
(Source: Reuters)
Mary Lee is a freelance writer and journalist based in Toronto, Canada. She holds an M.S. degree in business and economic journalism from Columbia University’s Graduate School of Journalism in New York and a certificate in digital marketing from the University of Toronto.
