The merger between Fiat Chrysler Automobiles and PSA Peugeot Citroën in 2021 gave birth to Stellantis. Yet, even before finalizing the deal, the automotive group aimed to share its “pay for performance” initiative with its employees, offering production bonuses based on the conglomerate’s performance. Since then, Stellantis has distributed €6 billion, with plans to add the distribution of bonuses for 2023 performances.
Stellantis employees will receive a bonus for achieving 2023 targets
Following robust sales last year, Stellantis has decided to reward its workers with a significant bonus in 2024: employees will receive a total of €1.9 billion ($2 billion). Although the company has not specified how many people will benefit from the profit-sharing agreement, it has revealed that last year, about 95% of its workforce was included in the “pay for performance” plan.
However, as Motor1 reminds us, there are specific aspects that deserve closer attention. For example, with the transition to an electric future, the company has announced plans to cut thousands of jobs. Already in November 2023, Stellantis offered voluntary exit packages to 6,400 employees in the United States, following a similar announcement in April about packages offered to 33,500 employees, including 31,000 hourly workers and 2,500 salaried workers.
A similar situation is unfolding in Europe, where job cuts are a constant concern as the industry shifts to electric vehicles. In the three years following the merger, Stellantis has already cut around 7,000 jobs in Italy alone, despite the company’s commitment to keep all 14 brands alive, including Lancia.
The newly introduced Ypsilon marks the revival of a brand that has faced significant challenges, representing a significant milestone as it is Lancia’s first electric vehicle and one of the 18 electric vehicles Stellantis plans to build this year. The company intends to further expand its electric vehicle offerings, aiming to have 48 purely electric models in its portfolio by the end of 2024.