Employees of Stellantis receive $2 billion thanks to the sales of 2023 (Photo: Divulgação/Stellantis)
A Stellantis, a merger of Fiat Chrysler Automobiles and PSA Peugeot Citroën, celebrated its 2023 earnings by sharing them with its employees as part of the “pay for performance” initiative.
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After strong sales last year, Stellantis will reward its workers with a generous check in 2024. Employees are expected to receive an impressive $2 billion from the company.
They did not specify how many people will benefit from the profit-sharing agreement, but mentioned that about 95% of their workforce was included in last year’s “pay for performance” plan.
But, not everything is rosy. As the company moves towards an electric future, it will cut thousands of jobs. In November 2023, Stellantis announced voluntary buyout packages for 6,400 salaried employees in the United States.
In Europe, a similar situation is unfolding, where job cuts are a constant concern in the context of the industry’s shift to electric vehicles. In the three years since the merger, Stellantis has eliminated about 7,000 jobs in Italy alone.
Even so, the company is committed to keeping all 14 brands alive, including Lancia. The new Ypsilon, presented this week, is Lancia’s first electric vehicle and one of the 18 electric vehicles that Stellantis plans to announce this year.
The company aims to further expand its electric car offering, with the goal of having 48 fully electric models in its portfolio by the end of 2024.
