Stellantis, the parent company of Chrysler, announced on Monday that it is offering 6,400 US salaried employees voluntary buyouts in an effort to cut costs amid the transition to electric vehicles following a new United Auto Workers contract.
The offer will be given to about half of its US white-collar employees.
Salaried employees must have at least five years' experience to be offered a voluntary departure package, Reuters reported.
"As the U.S. automotive industry continues to face challenging market conditions, Stellantis is taking the necessary structural actions to protect our operations and the company," a Stellantis spokesperson wrote in an emailed statement.
Employees who agree to take the incentive will leave the company before the end of December.
The employment buyouts are the second such incentive Stellantis has offered this year.
In April, the company extended voluntary buyouts to about 33,500 US employees, including 31,000 hourly employees with at least one year of employment and 2,500 salaried, nonunion employees who had 15 or more years with the company.
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