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The merger between Fiat Chrysler Cars and PSA Peugeot Citroën was finalized in early 2021 when Stellantis was formally born. Even earlier than the deal was carried out, the automotive conglomerate determined to share its luck with its staff. That is how the “pay for efficiency” technique was initiated, and since then, the auto juggernaut has already distributed €6 billion (about $6.4B at present change charges).
After posing sturdy 2023 outcomes, Stellantis shall be rewarding its staff with an enormous fats test this 12 months. As a token of appreciation, staff are getting a whopping €1.9B ($2B). The corporate doesn’t say how many individuals will profit from the profit-sharing deal however does point out round 95 p.c of its workforce was included within the “pay for efficiency” plan final 12 months.
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Nonetheless, it is not all sunshine and rainbows for Stellantis. As the corporate inevitably strikes towards an all-electric portfolio, the necessity for fewer individuals to construct vehicles turns into obvious. Electrical autos are much less advanced than vehicles powered by combustion engines, prompting the automaker to trim 1000’s of jobs. In November 2023, Stellantis introduced voluntary buyout packages for six,400 salaried staff in america. This adopted an earlier announcement in April about voluntary exit packages supplied to 33,500 US-based staff, together with 31,000 hourly staff and a pair of,500 salaried staff.
An identical scenario is unfolding in Europe, the place job cuts are a continuing concern amid the trade’s shift to electrical autos. Since Stellantis was shaped three years in the past, it has eradicated round 7,000 jobs in Italy alone. That is regardless of the corporate’s dedication to conserving all 14 manufacturers alive, together with Lancia. The new Ypsilon, unveiled this week, indicators the rebirth of the troubled model.
The all-new Ypsilon marks a major milestone as Lancia’s first electrical automobile and is a part of the 18-car lineup and not using a combustion engine that Stellantis plans to launch this 12 months. Wanting forward, the corporate goals to increase its electrical choices additional, with a goal of getting 48 purely electrical fashions in its portfolio by the tip of 2024.
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