The merger between Fiat Chrysler Automobiles and PSA Peugeot Citroën was finalized in early 2021, birthing Stellantis. But even earlier than the deal was performed, the auto conglomerate shared its luck with its workers with the “pay for performance” initiative. Stellantis has since distributed €6 billion (about $6.4B at present change charges), with one other wholesome 2023.

After robust gross sales final yr, Stellantis can be rewarding its employees with a fats test in 2024. Employees are getting a whopping €1.9B ($2B) whole. The firm doesn’t say how many individuals will profit from the profit-sharing deal, but it surely does point out that round 95 p.c of its workforce was included within the “pay for performance” plan final yr.

But it isn’t all excellent news. As the corporate strikes towards an electrical future, the corporate will trim 1000’s of jobs. In November 2023, Stellantis introduced voluntary buyout packages for six,400 salaried workers within the United States. This adopted an earlier announcement in April about voluntary exit packages supplied to 33,500 US-based workers, together with 31,000 hourly employees and a pair of,500 salaried employees.

An identical scenario is unfolding in Europe, the place job cuts are a continuing concern amid the trade’s shift to EVs. In its three years for the reason that merger, Stellantis has eradicated round 7,000 jobs in Italy alone. This regardless of the corporate’s dedication to maintaining all 14 manufacturers alive, together with Lancia.

The new Ypsilon, unveiled this week, alerts the rebirth of the troubled model and marks a big milestone as Lancia’s first electrical automobile and one in every of 18 EVs Stellantis plans to construct this yr. The firm goals to broaden its electrical choices additional, with a goal of getting 48 purely electrical fashions in its portfolio by the top of 2024.