The joining of Fiat Chrysler Automobiles and PSA Peugeot Citroën in early 2021 created Stellantis. Even before this happened, the big car company decided to share its success with its workers by starting a “pay for performance” plan. Since then, Stellantis has given out €6 billion (about $6.4 billion) to its employees.
Because Stellantis did well in 2023, it’s giving its workers a big bonus this year: €1.9 billion ($2 billion). They don’t say exactly how many people will get it, but last year, almost everyone who worked there got something.
But things aren’t all good news for Stellantis. As they move towards making only electric cars, they won’t need as many workers to build them. Electric cars are simpler to make than ones with gas engines, so Stellantis is cutting thousands of jobs.
In November 2023, they offered packages to 6,400 workers in the US to leave their jobs, and earlier in April, they did the same for 33,500 US workers, including 31,000 hourly workers and 2,500 salaried ones.
The same thing is happening in Europe. Since Stellantis started three years ago, they’ve gotten rid of about 7,000 jobs in Italy alone. But even though they’re getting rid of jobs, Stellantis is still keeping all 14 of its car brands, including Lancia. They just showed off a new electric car called the Ypsilon, which is the first electric car from Lancia.
The Ypsilon is important because it’s part of Stellantis’ plan to make 18 electric cars this year. And they want to make even more electric cars in the future, to have 48 electric models by the end of 2024.
