Jeep manufacturer Stellantis told employees Tuesday that it will launch another round of voluntary buyouts to reduce headcount without layoffs.
Stellantis announced the buyout plan in an email to employees, saying it would offer voluntary separation deals to nonunion U.S. workers below the vice presidential level. The company said eligible employees will be sent offers in August.
The company confirmed that layoffs would occur if an insufficient number of employees took part in the buyouts. Stellantis didn’t confirm how many buyouts or layoffs would take place.
The buyouts continue Stellantis’ cost-cutting measures, which have accelerated since the company inked a historic contract with its unionized workers last year. The company has cut around 15% of its workforce, or 47,500 workers, since 2020.
The company also conducted voluntary buyouts in November, shortly after signing the contract with the United Auto Workers, which reduced its white-collar workforce by half. Other carmakers like Ford and General Motors have also conducted voluntary buyouts and layoffs since signing the UAW deal.
• Vaughn Cockayne can be reached at vcockayne@washingtontimes.com.
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