2024-02-15 17:19:39
A record profit… which will be shared. The Stellantis automobile group, resulting from the merger in 2021 of Peugeot-Citroën and Fiat-Chrysler, recorded a record profit in 2023. Its management indicated Thursday that it would redistribute nearly 1.9 billion euros to its employees in the world.
Between participation and profit-sharing bonuses, this represents a minimum amount of 4,100 euros gross for each of its employees, compared to 4,300 in 2022, and a maximum of 6,000 euros, specified the group’s human resources director, Xavier Chéreau, during a press conference. These elements vary, depending on the salary agreements concluded in each country and on each site where Stellantis operates, which is particularly active in France, Italy and North America.
7.7 billion euros for shareholders
This “return” to employees is “completely correct and completely well earned,” said the group’s boss, Carlos Tavares, on franceinfo. He explains the record profit for 2023, which reached 18.6 billion euros, above all by “the excellent work of the employees”. “They were remarkable and I would like to thank them and congratulate them warmly.”
The group’s shareholders will receive around 7.7 billion euros for the 2023 financial year, between dividends and a share buyback program. “The redistribution mechanisms for employees and shareholders are not the same,” explained Xavier Chéreau.
30,000 fewer employees in one year
Employees can also benefit from dividends with an enhanced shareholding program, which has already convinced 31% of French employees and must be open to other employees around the world in 2024, underlined Xavier Chéreau.
The group’s workforce fell by 12% in one year, going from 272,000 to 242,000 employees worldwide at the end of 2023, or 30,000 fewer employees, according to documents published by the group. Stellantis management, for its part, assures that the drop in workforce is more like 5% since the merger in 2021, because “natural productivity efforts have been carried out in all countries”, underlined Xavier Chéreau. The rest is linked to “changes in scope”, according to him.
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