Stellantis, unions agree on over 700 voluntary redundancies this year -UILM

MILAN (Reuters) - Stellantis and unions have agreed to cut 714 jobs at the carmaker's operations in Italy this year through voluntary redundancies, the UILM union said on Thursday.

The deal is similar to one reached by the company in France earlier this week to axe a total of 2,600 jobs via voluntary departures over two years.

The group, which was formed one year ago through the merger of Fiat Chrysler and Peugeot maker PSA, is seeking to reduce excess capacity in Europe and adapt production to an expected shift in demand towards electric vehicles (EVs).

Stellantis currently employs around 55,000 people in Italy.

Voluntary redundancies had been part of an agreement reached by unions and Stellantis last year but many had not happened, UILM said in a statement, resulting in a new agreement for this year. The union added that departing workers would benefit from company-provided incentive schemes and public subsidies.

Gianluca Ficco, UILM's top representative for the automotive sector, said Stellantis would allow workers, where possible, to move internally to make redundancies compatible with production needs.

A Stellantis spokesperson confirmed the information provided by UILM and said the company had no further comment.

(Reporting by Giulio Piovaccari; Editing by Kirsten Donovan)

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