Chrysler parent company Stellantis is providing voluntary separation packages to approximately 6,400 of its US white-collar employees, representing half of its nonbargaining unit workforce with five or more years of employment. The move is aimed at reducing headcount and cutting costs for the automaker’s North American operations.
Stellantis is among several US auto industry companies seeking to reduce expenses amidst economic uncertainties and significant investments in emerging technologies like electric vehicles. The voluntary separation packages come shortly after Stellantis reached a tentative agreement with the United Auto Workers union, which also includes voluntary buyouts. Employees have until December 8 to accept the buyout offers.