Stellantis pays up to $72,000 to UAW workers to exit

Many automakers are planning to trim their workforce, and some are using generous economic incentives to get people out. The latest is Stellantis, which reportedly offers some hourly employee acquisitions worth up to $72,000.

This is still a considerable amount of money compared to the six-figure payments offered by Mercedes. This is especially true if you are already considering retirement.

More: Mercedes pays employees up to $540,000 to exit

Automotive News The company is providing acquisitions in more than 20 facilities in the Midwest, from assembly plants to parts distribution centers. To qualify, employees must spend at least one year with the automaker. However, you need to work long hours to get the most out.

While the details are hazy, those who have less than 15 years of experience can only get $50,000. The company is said to have also provided a “$50,000 incentive” for workers hiring before November 2007 and eligible for retirement.

The situation is different for everyone, but workers must accept it by May 8. However, not everyone believes that this is the right move. “It’s not enough” because “it’s hard to find a job, because it’s hard to find benefits and salaries, and a representation of what they have here.”

It remains to be seen how many people will get a quote from the company, but Strandis said the buyout is part of an effort to improve efficiency and stay competitive. The union blames former CEO Carlos Tavares for a different approach and his efforts to create the “severe mismanagement” of the crisis.