Stellantis Distributes €1.9 Billion to Employees in Recognition of Stellar 2023 Performance
Amsterdam – In a landmark announcement that underscores its employee-first ethos and robust financial health, global automaker Stellantis N.V. today declared it will allocate nearly €1.9 billion in profit sharing and variable bonuses to its workforce worldwide. This gesture, reflective of the company's exceptional 2023 financial results, propels the total distributed to employees to a staggering €6 billion since its inception three years ago.
Stellantis, a beacon in the international automotive industry, credits its global employee base as the central pillar behind its unprecedented performance. "Employees are the heart of Stellantis' performance," the company remarked, highlighting that around 95% of its workforce benefitted from its “pay for performance” strategy in 2023. This strategy not only recognizes but generously rewards the commitment and achievements of its team members.
In recent moves demonstrating its dedication to integrating employees into its success trajectory, Stellantis initiated the “Shares to Win” employee share purchase plan in France and Italy. This innovative scheme, poised for expansion in 2024, aims to involve up to 242,000 eligible employees globally, providing them with a tangible stake in the company's future.
Carlos Tavares, CEO of Stellantis, expressed his gratitude towards the workforce, attributing the company's strong financial results to the collective efforts of its employees. "These profit sharing and variable payout programs are more than a reflection of our employees’ performance and achievements, they are the fair recognition of their commitment to succeed as one team,” Tavares remarked.
Stellantis' "pay for performance" approach—a culmination of positive union dialogues and a market-aligned compensation policy—has contributed significantly to its competitive edge. Such strategies enable the automaker not only to attract top talent but also to foster a culture of excellence and shared success.
As Stellantis marches towards its Dare Forward 2030 objectives, including the bold ambition to become a carbon net zero mobility tech company by 2038, sharing financial success with its employees remains a critical component of its cultural and strategic framework.
The company's portfolio, boasting iconic brands such as Jeep®, Fiat, and Peugeot, is on a steadfast path to redefine mobility. By prioritizing clean, safe, and affordable mobility solutions and adopting innovative employee engagement strategies, Stellantis is positioning itself as a leader in setting the standards for the future of the automotive industry.
Analyst comment
Positive news. Stellantis distributing €1.9 billion to employees shows its commitment to recognizing and rewarding their contribution. This will strengthen the company’s employee-first approach and foster a culture of excellence. It will also attract top talent and support the company’s goal of becoming a carbon net zero mobility tech company by 2038. Overall, this move will have a positive impact on the market.
