This is part of the pay-for-performance initiative
The merger of Fiat Chrysler Automobiles and PSA Peugeot Citroën was completed in early 2021, resulting in the creation of the Stellantis concern. But even before the deal was finalized, the auto conglomerate shared profits with its employees, launching a pay-for-performance initiative. Since then, Stellantis has paid out 6 billion euros, and 2023 was another successful year.
After strong sales last year, Stellantis will reward its employees with a total of 1.9 billion euros ($2 billion). The company does not say how many people will benefit from the profit-sharing agreement, but does mention that about 95% of its employees were enrolled in the pay-for-performance plan. last year.
The company will cut thousands of jobs as it moves toward an electric future. In November 2023, Stellantis announced voluntary buyout packages for 6,400 full-time US employees. Last April, voluntary severance packages were offered to 33,500 U.S. employees, including 31,000 hourly workers and 2,500 salaried employees.
A similar situation is unfolding in Europe, where job losses are a persistent problem as the industry shifts to electric vehicles. In the three years since the merger, Stellantis has cut around 7,000 jobs in Italy alone. This is despite the company's desire to retain all 14 brands, including Lancia.
Yesterday Stellantis presented a new Lancia car, which was called Lancia Ypsilon 2024.