Stellantis offers early retirement program to eligible U.S. employees By Reuters

© Reuters. FILE PHOTO: A Stellantis sign is icmarkets handling feeseen outside the company's headquarters in Auburn Hills, Michigan, U.S., June 10, 2021. REUTERS/Rebecca Cook/File Photo

(This Nov 1 story corrects to say Automotive News, not CNBC, first reported the development in paragraph 5)

(Reuters) - Stellantis NV, the world's fourth-largest automaker, is offering voluntary retirement program to pension-eligible employees in the United States, the company said late Monday.

The Netherlands-based firm said the early retirement is available to workers who are at least 55 years old and have been with the company for 30 years or who are at least 58 years old with 10 years of employment.

The employees being offered the buyouts are already eligible to retire.

"To assist in our transition, and to align our business priorities to a new set of critical skills and investment opportunities, Stellantis North America is offering a voluntary retirement program to eligible members of our team," the company said in an emailed statement.

Industry publication Automotive News first reported the development.

Unionized-salaried employees are not eligible for the buyouts, according to a CNBC https://www.cnbc.com/2021/11/01/stellantis-offering-buyouts-to-pension-eligible-us-salaried-workers.html report. The company cited the buyouts as a way to assist in its pivot to focus more on electric vehicles, according to the report.

Stellantis, formed at the beginning of the year from the merger of Fiat Chrysler and France's PSA, had announced plans to build factories in North America with LG Energy and Samsung (KS:005930) SDI Co to jointly produce electric vehicle (EV) batteries for the North American market.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!