Stellantis, the parent company of Chrysler, is offering buyouts to 33,500 employees in Europe.
The decision is part of the company's efforts to reduce its expenses.
- The company seeks to reduce its workforce by 11%, with most buyouts targeting workers in Italy, France, Germany, and Spain.
- Stellantis is facing increasing pressure from competitors and the global economic situation and is seeking to save money through restructuring and streamlining its operations.
- The company has not yet announced how many employees it expects to take the buyout offer or the financial impact of the program.
- Recently, the company stated that it would restructure its EV production objectives as a way of adapting to the recent market changes caused by Tesla's price reductions.
