MILAN – Stellantis is beefing up its severance offer to white-collar workers in Italy as it seeks to cut 2,100 jobs in the country by the end of this year.
The packages could be worth up to 200,000 euros, according to sources familiar with the matter. The new offer was first reported by the Italian newspaper Il Corriere della Sera, which said employees had received a letter with the offer at the end of October. Stellantis confirmed the letter.
Stellantis is trimming thousands jobs across the company as it pursues the transition to electrification. On Monday, it said it was offering voluntary buyout packages to 6,400 U.S. salaried employees in response to "challenging market conditions." It is also reportedly cutting jobs in France and Germany.
CEO Carlos Tavares has said the automaker must find savings to compensate for the reality that EVs are more costly to build than conventional gasoline models. Stellantis had about 270,000 employees at the end of the 2022 fiscal year, according to company documents.