Big white collar layoffs at Stellantis

[jejb]

Dang, offering half of it's white collar workers buyouts. Yeah, I know not that many will takt it, but it sure doesn't sound good:

Stellantis offers buyouts to roughly half of US salaried employees

Stellantis is moving forward with a cost-cutting push as it prepares for the shift to electric vehicles and larger labor cost under the new tentative UAW contract.

www.foxbusiness.com

 

[Travelin Ram]

Coming soon to the hourly workers too, as soon as the euphoria over their contract settles. Inventory is high, sales have slowed. Stellantis isn’t going to just burn money to make more unsold vehicles.

 

[tjfdesmo]

They raised prices by the largest percentage, by far, in the entire auto industry, and are watching their market share steadily slip. Well, DOH!

 

[mtnrider]

Got to pay for all those union forced raises somehow.....

.

 

[Sherman Bird]

A

Coming soon to the hourly workers too, as soon as the euphoria over their contract settles. Inventory is high, sales have slowed. Stellantis isn’t going to just burn money to make more unsold vehicles.

As long as people think they can be above the fray in prosperity by trading time for money, they'll always be unrested.

 

[tjfdesmo]

This chart pre-dates the strike, and shows what an outlier Stellantis is in terms of increases. "Off The Chart" comes to mind.

 

[DanAR]

Thats pretty telling alright.

 

[KKBB]

IMO it seems that when covid hit, and it was hard to get vehicles and parts, a lot of people started to pay way more than the vehicles were worth. The auto manufacturers aren't stupid...if they realize us dumb a s s Americans are willing to pay MSRP, or way over just to get a vehicle, they were going to keep the prices way up there. Prices won't come down until people stop paying these ridiculous prices!! Just my opinion.

 

[Docwagon1776]

IMO it seems that when covid hit, and it was hard to get vehicles and parts, a lot of people started to pay way more than the vehicles were worth. The auto manufacturers aren't stupid...if they realize us dumb a s s Americans are willing to pay MSRP, or way over just to get a vehicle, they were going to keep the prices way up there. Prices won't come down until people stop paying these ridiculous prices!! Just my opinion.

You're absolutely right, and it's not just your opinion. It's a fundamental rule of capitalism and free market economics. Supply went down, demand stayed steady, prices went up. The incentive is to maximize profit, selling at less than the market will sustain just means you sell out first (if the market will consume more units of whatever than is available) or you leave money on the table per each unit sold.

 

[GTyankee]

They are closing the doors at the HEMI engine plant
That means a lot of White Shirts & even more Blue Shirts laid off down in Ramos Arizpe, Coahuila, Mexico.

latest talk going around with Mopar Insiders

Why Can't Stellantis Build A Next-Gen HEMI® Engine?

In the rapidly evolving landscape of automotive technology, the debate over the future of internal combustion engines rages on. While many automakers are pivoting towards electric vehicles (EVs), stalwarts like General Motors (GM) and Ford are reaffirming their commitment to the classic V8...

moparinsiders.com

 

[Vgbu56]

Over 26% increase from the 2019 model, us retired people get left in the dust, guess I'll just drive what I have.
any comments ramcares

 

[Wild one]

Stellantis was on our local news tonight,with the amount of foreign workers they're bringing in for the new EV battery plant us Canuck taxpayers are on the hook for.

 

[skates15]

Dang, offering half of it's white collar workers buyouts. Yeah, I know not that many will takt it, but it sure doesn't sound good:

Stellantis offers buyouts to roughly half of US salaried employees

Stellantis is moving forward with a cost-cutting push as it prepares for the shift to electric vehicles and larger labor cost under the new tentative UAW contract.

www.foxbusiness.com

Buyout offer today, pink slip next week. I went thru all that in the late 90s, early 2ks during the first dot com wave in silly valley. I worked at one place that offered 6 month severance packages to people that were new hires just to get rid of them right after hiring them. I never got an offer because I designed the core product and was stupid and arrogant enough to think that my package would be bigger since I was hire number 5 out of 300. I had my come to Jesus meeting with the founder the morning the CFO lost his marbles when the repo thugs showed up and closed the doors. I got nothing. Sometimes its better to get something than nothing.

 

[jejb]

Sometimes its better to get something than nothing.

No doubt. I posted it because the scale of it was such a large scale offering, especially for an older, well established company still selling lots of product.

Sorry to hear about your situation.

 

[crash68]

Stellantis was talking about closing down the Auburn Hill headquarters before the strike happened, now they can make the union look bad by blaming the cost cutting on what they had to give up to the union.

 

[BossHogg]

Stellantis was talking about closing down the Auburn Hill headquarters

This is not well known but the HQ is laid out, at the time it was designed and built, to easily be converted into a shopping complex in the event it was no longer needed. My cousin was the VP for the RAM line at the time (back around 2003) he took me on a tour of the complex. I guess shopping malls have fallen by the wayside these days.

As far as buy-outs, well, nothing new to those of us who work for one of the big three (it is a constant and is often called workplace emotional terrorism). I was at GM when they did the Delphi EDS split, then got a buyout, went back to GM, and then in 2008 got another buyout offer. Then I decided to work in the supplier market and lived happily till 2017 when a buyout came along. By then I was 68 and I decided to pull the plug and retire.

Most of these buyout offers are aimed at age group workers, typically 55 and older. The problem with this is that their talent base is attritioning. So all the lessons learned over the years just walked out the door and ****, just like that, recalls and TSBs are on the rise.

 

[Scottly]

Price increases can be attributed to many things. What is absent in the postings here is whether or not these stats are based on model-to-model comparison, or fleet avg price (maybe I missed it?) There is no doubt that fleet average prices have risen substantially as manufacturers have shed lower margin cheaper models in favor of higher margin models. I'm NOT saying the prices haven't increased...They have. But when I see Stelantis being the highest, I can only think about their focus on the high-end Jeeps, Hellcat this-and-that, and pickups....It seems that's what they've been trying to sell.

 

[Sherman Bird]

This is not well known but the HQ is laid out, at the time it was designed and built, to easily be converted into a shopping complex in the event it was no longer needed. My cousin was the VP for the RAM line at the time (back around 2003) he took me on a tour of the complex. I guess shopping malls have fallen by the wayside these days.

As far as buy-outs, well, nothing new to those of us who work for one of the big three (it is a constant and is often called workplace emotional terrorism). I was at GM when they did the Delphi EDS split, then got a buyout, went back to GM, and then in 2008 got another buyout offer. Then I decided to work in the supplier market and lived happily till 2017 when a buyout came along. By then I was 68 and I decided to pull the plug and retire.

Most of these buyout offers are aimed at age group workers, typically 55 and older. The problem with this is that their talent base is attritioning. So all the lessons learned over the years just walked out the door and ****, just like that, recalls and TSBs are on the rise.

That was when Ross Perot got stupid rich!

 

[Scottly]

That was when Ross Perot got stupid rich!

I was never a fan of that guy, but I always admired how he, as a third party candidate, made that election interesting.

 

[crash68]

This is not well known but the HQ is laid out, at the time it was designed and built, to easily be converted into a shopping complex in the event it was no longer needed.

Unless someone spends a fortune or the building is demolished the Chrysler Pentastar will forever be emblazon on the top of that building.