Stellantis NV (NYSE: STLA) reportedly disclosed its plan to offer voluntary buyouts to 6,400 U.S. salaried employees as a part of its cost-saving initiative.
The Chrysler parent is looking to cut costs amid transitioning to electric vehicles (EVs) and agreeing to a new United Auto Workers contract, according to Reuters.
The buyouts would be offered to about half the company's salaried U.S. employees (currently at 12,700) who are not represented by a union.
The company is not offering it to around 2,500 unionized U.S. salaried workers.
Notably, the company's salaried employees must have at least five years of experience to be offered this package.
Stellantis stated that employees agreeing to take the incentive should ...