Certain Stellantis employees in the United States could earn a big payout if they quit in the coming weeks. The automaker is offering hourly UAW employees up to $72,000 and six months of medical benefits if they take the offer.
The buyouts start at $50,000 for employees with at least one year of experience but less than 15, according to the Detroit Free Press, which obtained a copy of the offer letter. Employees who have survived the Daimler-Chrysler dissolution, the Global Recession, Chrysler’s merger with Fiat, and Fiat Chrysler’s tie-up with PSA Group and have more than 25 years with the company can receive the full amount.
Stellantis confirmed the offer letter in a statement to the Freep, telling the publication that eligible employees have until May 8 to decide. The offer is only for eligible employees at specific Michigan, Illinois, and Ohio facilities where the automaker makes vehicles like the Jeep Wrangler and Ram 1500.
The latest buyout offer arrives after the automaker made similar proposals to 33,000 employees in 2023 and to 11,000 others in 2024. It’s unclear how many employees Stellantis is targeting with this round, but the offer letter says Stellantis can deny a buyout.
Stellantis said in a statement to the Free Press that the company “continues to review its operations to improve efficiency and protect its competitiveness in a very dynamic market.”
Stellantis is working to turn around its global operations after an abysmal 2024 that resulted in the company parting ways with its CEO, Carlos Tavares, last December. The automaker is still searching for a new boss during growing uncertainty in the industry. The shift to electric vehicles is taking longer than expected in specific markets, while competition is heating up in others.
