DETROIT (Michigan News Source) – Stellantis is offering buyouts to salaried employees as part of an effort to cut costs following a decline in net income during the first half of the year.

The voluntary separation packages are available to non-union employees in the United States at the vice president level and below in “certain functions,” with no minimum years of service required.

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Eligible employees will receive an email in mid-August with details on how to access their individualized offers, which will include an “enhanced benefits package that has not been previously available.” The memo, signed by Tobin Williams, senior vice president for human resources & transformation in North America, stated that the goal is to achieve headcount reductions through attrition and the buyout offer, but involuntary layoffs could be necessary if these objectives are not met voluntarily.

The packages will include severance based on years of service as of Sept. 30, 2024, starting at two months for those with less than four years of experience and going up to 13 months for those with more than 20 years.