TSLA - Stellantis Adapts to EV Challenge Follows Tesla's Lead by Cutting Costs Through Global Job Shifts | Benzinga
Stellantis NV (NYSE:STLA) is shifting its engineering recruitment toward lower-cost countries such as Morocco, India, and Brazil, responding to the challenges posed by cheaper Chinese electric vehicles and diminished demand.
The company, known for producing Jeep SUVs, Opel Corsas, and Chrysler minivans, now targets hiring where the annual cost per engineer is roughly 50,000 euros (roughly $53,400) or less, a fraction of the cost in places like Paris and Detroit.
The company’s CEO, Carlos Tavares, faces criticism for his high compensation amid widespread job reductions and worsening working conditions for the remaining staff, Bloomberg reports.
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Facing declining electric vehicle (EV) demand, Western automakers, including Tesla Inc (NASDAQ:TSLA) and Volkswagen AG, are ...