Stellantis Dangles $50,000 Check for Voluntary Terminations

After a long period of hiring and widespread labor shortages, some companies are looking to cut back on staff to prepare for uncertain economic times ahead. Earlier this month, we learned that thousands of GM employees took the company’s offer for a buyout, which helped it avoid mass layoffs. Now it’s Stellantis’ turn, as the automaker is offering money to lure around 3,500 hourly workers out of their jobs.

Stellantis wants to cut costs to put more resources behind its electrification push, which includes 25 new models by 2030. Retirement-eligible workers hired before the 2007 union contract can get a $50,000 check for taking the offer, while others with more than a year of service will get smaller amounts.

The automaker had already stopped production at its Belvidere, Illinois plant and announced that the Jeep Cherokee would be discontinued shortly after. That move put the union on edge, but this ask at least comes with a check attached.

Stellantis will offer the deal for a little over a month, starting on May 6. Workers will begin leaving between the end of June and the end of the year. Interestingly, the openings created by people leaving for the deal will be filled by others on indefinite layoff, so the jobs aren’t going away completely. 

[Image: Jonathon Weiss via Shutterstock]

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from TheTruthAboutCars https://www.thetruthaboutcars.com/cars/news-blog/stellantis-dangles-50-000-check-for-voluntary-terminations-44500609?utm_medium=auto&utm_source=rss&utm_campaign=all_full