The merger between Fiat Chrysler Cars and PSA Peugeot Citroën was finalized in early 2021, birthing Stellantis. However even earlier than the deal was performed, the auto conglomerate shared its luck with its staff with the “pay for efficiency” initiative. Stellantis has since distributed €6 billion (about $6.4B at present alternate charges), with one other wholesome 2023.
After sturdy gross sales final 12 months, Stellantis shall be rewarding its staff with a fats test in 2024. Staff are getting a whopping €1.9B ($2B) whole. The corporate doesn’t say how many individuals will profit from the profit-sharing deal, however it does point out that round 95 p.c of its workforce was included within the “pay for efficiency” plan final 12 months.
However it’s not all excellent news. As the corporate strikes towards an electrical future, the corporate will trim hundreds of jobs. In November 2023, Stellantis introduced voluntary buyout packages for six,400 salaried staff in the USA. This adopted an earlier announcement in April about voluntary exit packages supplied to 33,500 US-based staff, together with 31,000 hourly staff and a pair of,500 salaried staff.
An identical state of affairs is unfolding in Europe, the place job cuts are a continuing concern amid the trade’s shift to EVs. In its three years for the reason that merger, Stellantis has eradicated round 7,000 jobs in Italy alone. This regardless of the corporate’s dedication to preserving all 14 manufacturers alive, together with Lancia.
The brand new Ypsilon, unveiled this week, alerts the rebirth of the troubled model and marks a big milestone as Lancia’s first electrical automobile and one among 18 EVs Stellantis plans to construct this 12 months. The corporate goals to broaden its electrical choices additional, with a goal of getting 48 purely electrical fashions in its portfolio by the top of 2024.
