Stellantis NV is offering buyout packages to 6,400 white-collar workers in the United States, citing market conditions and the transition to electric vehicles for the decision.
The offer was made available to about half of its 12,700 salaried employees not represented by the United Auto Workers. It’s the second round of buyouts the company has announced this year.
The industry is facing high interest rates that are challenging the ability of many customers to purchase new vehicles, contributing to a 1% decrease in Stellantis’ U.S. sales in the first nine months of 2023. Meanwhile, Stellantis is just about ready to start the launches of its first North American all-electric offerings, which its CEO has characterized as 40% more expensive than internal combustion engine counterparts. They’ll come just as the industry is pulling back on its EV projections because of affordability challenges and lagging charging infrastructure.
