Chrysler Parent Offers Buyouts to U.S. Salaried Staff

(Bloomberg) -- Stellantis NV, owner of the Chrysler and Jeep brands, is offering buyouts to salaried workers in the U.S. who are eligible for retirement, the company confirmed in an email.

Stellantis, formed by the merger of Fiat Chrysler and PSA Group earlier this year, is trying to reduce headcount as it plows more money into electric vehicles. The automaker has pledged to spend more than 30 billion euros ($35 billion) on an electrification and software strategy.

The company offered the buyouts “to assist in our transition, and to align our business priorities to a new set of critical skills and investment opportunities,” spokeswoman Shawn Morgan said Monday in an e-mailed statement.

The offer is available to employees who are 55 or older and have 30 years of experience with the company, or are 58 and up and have been there for more than 10 years, the company said.

Stellantis has formed a battery-making joint venture in Europe, and announced plans to build two new factories in North America with LG Energy and Samsung SDI Co. It’s racing to catch up with Ford Motor Co. and General Motors Co, which are bringing new electric models to market this year. Stellantis is touting hybrid versions of the Jeep Wrangler and Jeep Grand Cherokee SUVs.

Stellantis declined to say how many of its more than 14,000 domestic salaried employees were eligible for the package. The buyout news was reported earlier Monday by Automotive News.

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