Stellantis CEO continues layoffs while receiving remuneration pay package

Stellantis recently announced that it will continue to lay off workers at its Mirafiori plant in Europe. The legacy automaker stated that layoffs at its Mirafiori plant would continue until May 6, 2024.

This decision has faced criticism from local unions, who have raised concerns about the impact on employment and the community. Shareholders approved Stellantis CEO Carlos Tavares’s 2023 remuneration pay package, which has triggered some controversy.

The CEO’s pay package increased by 56% to €36.6 million ($38.8 million), including €13 million in long-term incentives based on specific performance targets. In response to the criticisms, Tavares reassured that the company still plans to invest more in Italy, contrary to speculation that it may shift production to countries with cheaper costs.

However, concerns remain about the job cuts and their impact on the Italian workforce. Secretary-General Edi Lazzi of the Fiom-Cgil of Turin and Gianni Mannori highlighted the need for a comprehensive negotiation involving the government, Stellantis, and the unions.

He emphasized the importance of addressing the situation not only at Mirafiori but also at other Italian factories, to prevent the loss of automotive production in the country.

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