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Stellantis Continues Cost-Cutting Amid Record Profits and CEO Pay Hike

Stellantis Continues Cost-Cutting Amid Record Profits and CEO Pay Hike​

Automaker Forms Key Chinese EV Partnership and Navigates U.S. and EU Trade Policies...​


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Stellantis is set to continue its aggressive cost-cutting strategy in the coming months, despite reporting record profits over the past few years. This strategy comes at a time when the automotive industry is making a significant transition to electric vehicles (EVs).

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Stellantis Continues Cost-Cutting Amid Record Profits and CEO Pay Hike

Stellantis is set to continue its aggressive cost-cutting strategy in the coming months, despite reporting record profits over the past few years. This strategy comes at a time when the automotive industry is making a significant transition to electric vehicles (EVs).
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OH y'all thought NA would be exempt? You don't have a Merger and not expect there to be scale and redundancy Saving? That is the entire idea. And nothing says redundant that not coming into the office. Sad but true.
 
TripleT said:
OH y'all thought NA would be exempt? You don't have a Merger and not expect there to be scale and redundancy Saving? That is the entire idea. And nothing says redundant that not coming into the office. Sad but true.
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Tavares himself spends 50% of his work time from home in Spain.
 
redriderbob said:
Tavares himself spends 50% of his work time from home in Spain.
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Yeah, you know that not the same. He spends all his days in meetings. Plus Pepe LeCheapskate is figure head style position. I work from home also, it takes a lot of discipline.

In a large corporate structure, not being visible in the office is extremely dangerous one has to show one's value and be visible, regardless of your actual contribution.
 
Reality is settling in.
No wish to be negative but folks, this is NOT looking good.
In my humble opinion from the outside looking in, this is like what we've all come to love and enjoy , is disappearing for good. It's like watching your childhood home being demolished.
Thought I'd never say this, but this current situation makes the Daimler era look great.
My question is, what will be left once the dust settles?
 
Moparound said:
Reality is settling in.
No wish to be negative but folks, this is NOT looking good.
In my humble opinion from the outside looking in, this is like what we've all come to love and enjoy , is disappearing for good. It's like watching your childhood home being demolished.
Thought I'd never say this, but this current situation makes the Daimler era look great.
My question is, what will be left once the dust settles?
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Yeah, get some perspective.... Daimler stole 18 billion and wasted trying to buy Mitsubishi in the middle of emission scandal, the sucked every bit of value out of the company, produced some of the worst products in history of the company, then left the nearly dead carcass to the Private Equity Dbags.

Pepe has a long way to go to even approach the Daimler debacle.

NA had to this point be exempt for the most part to the merger realities, seems to me the retention contracts are up and now Pepe wants his own team, and NA now is getting the "Scale" saving part of the merger plan.
 
redriderbob said:
Tavares himself spends 50% of his work time from home in Spain.
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Stellantis doesn't have a true HQ, but CTC under Sergio kind of did due to he being the head/COO of North America on top of being CEO.
Under Manley, he traveled to Europe less (prior to COVID lockdown).
 
AlexB said:
Stellantis doesn't have a true HQ, but CTC under Sergio kind of did due to he being the head/COO of North America on top of being CEO.
Under Manley, he traveled to Europe less (prior to COVID lockdown).
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Useless mindless Teams meeting.... and traveling in between Dog and Pony, Dog and Pony. The Job sucks... he is paid well for it.
 
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Carlos how about you take a BIG pay cut. I love how the Europeans rape Chrysler for money and screw us on product. When Chrysler Group has new and full line up then Carlos can get a raise, of sell Chrysler Group!
 
MoparRay said:
Carlos how about you take a BIG pay cut. I love how the Europeans rape Chrysler for money and screw us on product. When Chrysler Group has new and full line up then Carlos can get a raise, of sell Chrysler Group!
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IDK using the Grape term is pretty unappropriated. FCA does have a full North American line except for the abandoned transport Sedan market that is still upside down, Geely Volvo even recently abandoned it.

Someone isn't pay attention to the EU where they are several years ahead on the Merger consolidation. Basically, everything is merged into common platforms with Coachwork differences. Don't think there is not plenty of bitch there about this. Also

When Sergio took over Chrysler group was basically dead and billions of dollars were invested in resurrecting it. Brands like Lancia and Alfa were left without product while that was fixed. So what comes around goes around.

Chrysler brand has no clear direction and that is a left over from Daimler that depreciated the brand when they closed Plymouth. Previousl a Niche luxury brand aside from an Eagle(300M) and Plymouth(PT Cruiser). With death of the sedan, the Lincoln Continental failure and Jeep being the SUV brand.... Chrysler has little room for products to make it through all the approval Gates, a Telsa competitor is best idea, but FCA is bit behind in the EV market.
 
TripleT said:
IDK using the Grape term is pretty unappropriated. FCA does have a full North American line except for the abandoned transport Sedan market that is still upside down, Geely Volvo even recently abandoned it.

Someone isn't pay attention to the EU where they are several years ahead on the Merger consolidation. Basically, everything is merged into common platforms with Coachwork differences. Don't think there is not plenty of bitch there about this. Also

When Sergio took over Chrysler group was basically dead and billions of dollars were invested in resurrecting it. Brands like Lancia and Alfa were left without product while that was fixed. So what comes around goes around.

Chrysler brand has no clear direction and that is a left over from Daimler that depreciated the brand when they closed Plymouth. Previousl a Niche luxury brand aside from an Eagle(300M) and Plymouth(PT Cruiser). With death of the sedan, the Lincoln Continental failure and Jeep being the SUV brand.... Chrysler has little room for products to make it through all the approval Gates, a Telsa competitor is best idea, but FCA is bit behind in the EV market.
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And FIAT took on Billions of debt from Chrysler, and Chrysler-related balance sheet items(VEBA, buying out the U.S. and Canadian Government stakes & ownership warrants).
Took FCA a model cycle to payoff those debts,get back into investment grade/Prime credit rating and PSA entered the merger with billions of cash chest.
 
TripleT said:
Yeah, get some perspective.... Daimler stole 18 billion and wasted trying to buy Mitsubishi in the middle of emission scandal, the sucked every bit of value out of the company, produced some of the worst products in history of the company, then left the nearly dead carcass to the Private Equity Dbags.

Pepe has a long way to go to even approach the Daimler debacle.

NA had to this point be exempt for the most part to the merger realities, seems to me the retention contracts are up and now Pepe wants his own team, and NA now is getting the "Scale" saving part of the merger plan.
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Yeah, I kinda get it, but, to me, and I lived through the Lee Iacocca era which was actually great to see and watch(not perfect) and then the Daimler era which was devastating to watch the savings account be drained then sent overseas, and then. basically tell CDJ,. pull yourself out of the debt we just assigned' to you...... makes some wonder how many times the Phoenix will rise. This time is seems much worse for some reason.
Am just broken for all the people who have and will be canned. VERY upsetting.
I don't mind external creativity(from other parts of the world) but when it takes a turn to remove the folks sitting at our table, so to speak, and then say this is what we're gonna do like it or not, you are not a leader but a bean-counter running around with a butcher knife cutting staff bragging on how great the numbers look. To me, that's not leadership and only serves the investors for a finite period till the damage caused reveals itself.
Am just trying to understand I guess and would like to know where this is all heading.
If C.T. wants to be a 'global company', then understand the markets in each area before coming in, cleaning house, and then ask everyone to support him and his 'mission'. Show some care and not force your personal agenda onto people, cause if you do, expect a rebellion of sorts that most likely won't end well.
I don't wish to be so emotional about this but I just can't help it. Mopar, to me, is more than just a name.
Sorry for the babbling. And, appreciate you Triple-T.
 
Moparound said:
Yeah, I kinda get it, but, to me, and I lived through the Lee Iacocca era which was actually great to see and watch(not perfect) and then the Daimler era which was devastating to watch the savings account be drained then sent overseas, and then. basically tell CDJ,. pull yourself out of the debt we just assigned' to you...... makes some wonder how many times the Phoenix will rise. This time is seems much worse for some reason.
Am just broken for all the people who have and will be canned. VERY upsetting.
I don't mind external creativity(from other parts of the world) but when it takes a turn to remove the folks sitting at our table, so to speak, and then say this is what we're gonna do like it or not, you are not a leader but a bean-counter running around with a butcher knife cutting staff bragging on how great the numbers look. To me, that's not leadership and only serves the investors for a finite period till the damage caused reveals itself.
Am just trying to understand I guess and would like to know where this is all heading.
If C.T. wants to be a 'global company', then understand the markets in each area before coming in, cleaning house, and then ask everyone to support him and his 'mission'. Show some care and not force your personal agenda onto people, cause if you do, expect a rebellion of sorts that most likely won't end well.
I don't wish to be so emotional about this but I just can't help it. Mopar, to me, is more than just a name.
Sorry for the babbling. And, appreciate you Triple-T.
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Having been through 4 company sale or mergers myself it is just par for the course. This is what a Merger means. The expect "Synergist" cost saving that how the entire thing is sold to shareholders. They will cut more than they should and then rehire a bunch back as consultants.
 
My hope is that Stellantis is just going through this austerity cycle because of the huge costs related to the simultaneous electrification and consolidation of all their platforms. On top of that, they are dealing with a more aggressive labor partner, not to mention the political climate.

So they probably wanted a notorious cost cutter in charge of this cycle, to push through the hardest part.

Hopefully, once the next phase begins, and the new platforms and products start rolling out en mass, they will dump Tavares and pick a new CEO who is more product focused.

My biggest concern is that I don't have a lot of faith that they are properly investing in making sure their next products are class leading. Without that, it won't matter who the next CEO is, because it'll be too late to correct.
 
Dodge as a brand is doomed. Stellantis decided that Dodge is the muscle car brand. Muscle cars and performance vehicles have always been cyclical in the North American market. I would feel much better about the brand if Stellantis simply considered Dodge a mainstream brand which also offers performance. Nobody from the management team who remains to run the brand seems to have caught on that subtlety is back in style. The Dodge brand now has a negative public image as thug bait.People don't want EVs, because that was a fad, and they don't want the thug bait persona that the brand currently has attached to it. Now is not the time to be the nail which stands out.
 
Having heard about Carlos T. wants Chrysler Group to be comptivetly priced against vehicles made in China, I say hooey ! Never happen ! Both political parties have realized that import duties need to be placed upon Chinese imports, coming soon!
Reminds me of when K-Mart tried to overcome /undersell Walmart, which in the end killed off K-Mart. Good luck to Carlos T. when the second quarter results are aired on Wall St. ! May I suggest that Carlos try this raping of an auto company in France, which would result in workers rioting !?
I along with many of my pals, retired Chrysler workers, hope our retirement packages are safe !
 
DodgeFL said:
Having heard about Carlos T. wants Chrysler Group to be comptivetly priced against vehicles made in China, I say hooey ! Never happen ! Both political parties have realized that import duties need to be placed upon Chinese imports, coming soon!
Reminds me of when K-Mart tried to overcome /undersell Walmart, which in the end killed off K-Mart. Good luck to Carlos T. when the second quarter results are aired on Wall St. ! May I suggest that Carlos try this raping of an auto company in France, which would result in workers rioting !?
I along with many of my pals, retired Chrysler workers, hope our retirement packages are safe !
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People in France are not happy with Carlos either: sending development work to contractors & contracting firms+ buyouts is his tactic in France.
Hence the nickname of his former boss Carlos Ghosn " La Cost killer" .
 
Having been around long enough to retire and having been an investor most of my adult life, the message is clear, when the bean counters take control of a corporation it soon becomes doomed ! Carlos has killed off the future products efforts, which is the mother's milk of all corporations. Meanwhile, Dodge has gone from #1 in product quality to last place, from first to worst within 12 months ! Great job as the blood-letting and quality issues grow !
 
DodgeFL said:
Having been around long enough to retire and having been an investor most of my adult life, the message is clear, when the bean counters take control of a corporation it soon becomes doomed ! Carlos has killed off the future products efforts, which is the mother's milk of all corporations. Meanwhile, Dodge has gone from #1 in product quality to last place, from first to worst within 12 months ! Great job as the blood-letting and quality issues grow !
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There are future products: just that John Elkann and Every one of the 3 CEO's underneath him believes Jeep is the Main Brand in North America, Dodge is specialty brand of performance+Muscle brand.
 
Dodge would be a Brampton issue and Hornet issue. New PHEV is something people have to get used to...
 
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