AUBURN HILLS, Mich. – Some white collar workers at Stellantis have the next few weeks to decide if they want to retire.
Stellantis is offering buyouts to those workers. The company is offering cash, among other things, to workers because the industry is in flux and its needs are changing quickly.
Fiat Chrysler didn’t expend a lot of energy on electrification -- but now that Stellantis grew out of Fiat Chrysler and Peugeot -- that’s changing.
The employees eligible for the buyout are those age 55 and older with 30 years of service, and those 58 and older with 10 years of service. All of those are pension qualified.
The automaker is offering three months paid salary, 100% medical coverage and participation in the company bonus next spring. The employees have until Nov. 30 to decide.
The company plans on replacing those employees with a vastly different workforce. The employees will not be getting coupons for new vehicles, mainly because the company doesn’t have many to sell.