Automobile giant Stellantis to redistribute more than 4,000 euros to each of its employees

Record profits… which will be distributed. The Stallantis automobile group, as a result of the merger of Peugeot-Citroen and Fiat-Chrysler in 2021, reported record profits in 2023. Its management indicated on Thursday that it would redistribute about 1.9 billion euros to its employees around the world.

Between participation and profit-sharing bonuses, this represents a minimum of 4,100 euros gross for each of its employees, compared to 4,300 in 2022 and a maximum of 6,000 euros, the group’s Human Resources Director Xavier Chereau clarified during a press conference. . These elements vary, depending on the salary agreement concluded in each country and each site where Stellentis operates, particularly active in France, Italy and North America.

7.7 billion euros for shareholders

The group’s boss, Carlos Tavares, told franceinfo that this “compensation” to employees is “absolutely true and absolutely well-earned.” It explains the record profit for 2023, which reached 18.6 billion euros, mostly due to the “excellent work of the employees”. “He was remarkable and I thank him and congratulate him warmly.”

The group’s shareholders will receive around 7.7 billion euros for the 2023 financial year between the dividend and the share buyback program. “The redistribution mechanism for employees and shareholders is not the same,” explained Xavier Chero.

30,000 fewer employees in one year

Employees can also benefit from dividends with an enhanced shareholding program, which has already guaranteed 31% of French employees and should be open to other employees worldwide in 2024, underlined Xavier Chereau.

According to documents published by the group, the number of employees of the group has decreased by 12% in a year, from 272,000 to 242,000 employees worldwide by the end of 2023, or 30,000 fewer employees. Stellentis management, for its part, assures that the reduction of employees after the merger in 2021 is like 5%, because “natural productivity efforts are carried out in all countries”, underlined Xavier Chero. The rest are linked to “changes in the field”, according to him.