DETROIT – Stellantis is providing voluntary buyouts to greater than 33,500 U.S. salaried and hourly staff, as the worldwide automaker makes an attempt to chop prices and headcount.

The buyouts might be provided to 31,000 hourly staff with not less than one yr of employment and a pair of,500 salaried non-union U.S. staff who’ve 15 or extra years with the corporate, the automaker stated Wednesday.

“In response to in the present day’s more and more aggressive international market circumstances and the required shift to electrification, Stellantis is totally reviewing its North American operations to enhance effectivity, cut back prices and shield the competitiveness of our merchandise to permit for additional strategic investments to help our transformation,” the corporate stated in a press release.

The buyouts are the most recent cuts for the U.S. auto trade. Common Motors earlier this yr provided buyouts to a majority of its salaried staff following performance-related layoffs.

Stellantis earlier this yr idled a Jeep plant in Illinois, inserting about 1,200 employees on indefinite layoffs.

This can be a growing story. Please examine again for extra updates.