Details of the buyout remain scarce. Automotive News reported an internal email sent on July 30, offering buyouts for all salaried positions up to vice president. Specifics will be provided to employees later in August. If insufficient employees accept the buyout, involuntary layoffs may occur.
A Stellantis representative stated to Motor1: "As Stellantis continues to address inflationary pressures and, importantly, provide consumers with affordable vehicles at the highest quality, we remain focused on taking 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. More detailed information will be provided to eligible employees in mid-August."
During a recent financial call, Tavares emphasized fixing North American operations, particularly addressing ineffective marketing and high vehicle inventories. FCA sales fell 21 percent in Q2 and are down 16 percent in the first half of the year. Only Fiat and Alfa Romeo saw gains, though they don't match the volume of Jeep or Ram.
FCA's decline contributed to Stellantis’ 48-percent drop in global net profits.
"It is an understatement to say that H1 2024 results were disappointing and humbling," Tavares said. "It represents a perfect convergence of several headwinds during a transitional period that opens the road for a product blitz of 20 new products."
Source: Motor1
