Union Fiom-Cgil Says Stellantis To Lay Off 500 At Melfi Assembly Plant Through Voluntary Exits: Retail Sentiment Dips
Synopsis
The union said the company had announced a similar voluntary exit plan that affected 350 jobs in Pomigliano and Pratola Serra.
Chrysler parent Stellantis NV (STLA) will reduce 500 jobs at its vehicle assembly plant in Melfi, Italy, through voluntary exits, union Fiom-Cgil said on Wednesday.
The union said the company had announced a similar voluntary exit plan that affected 350 jobs in Pomigliano and Pratola Serra.
The union’s national secretary, Samuele Lodi, noted that the voluntary exits are happening while the company is yet to find a permanent CEO and called for a discussion at Palazzo Chigi with Chairman John Elkann.
“It seems that a real plan for divestment from Italy is taking shape. For these reasons, Fiom-Cgil has not signed the redundancies,” the union said.
Stellantis has multiple significant vehicle assembly plants in Italy, including Turin, Cassino, Pomigliano, Melfi, and Val Di Sangro. As of the end of 2024, the company employed 38,660 workers in Italy.
Stellantis said last month that the process of appointing a new permanent CEO is “well underway” and will be concluded within the first half of 2025. The previous CEO, Carlos Tavares, stepped down in December, and Elkann is now leading the company.
For the first quarter (Q1), Stellantis reported net revenues of €35.8 billion ($40.66 billion), down 14% compared to Q1 2024, and below Wall Street expectations. While the drop was primarily due to lower shipment volumes, adverse regional mix and price normalization also impacted revenues, the company said.
The company suspended its full-year financial guidance in April, citing tariff-related uncertainties.
On Stocktwits, retail sentiment around Stellantis fell from ‘neutral’ to ‘bearish’ territory over the past 24 hours while message volume remained at ‘low’ levels.
STLA stock is down by about 27% this year and 57% over the past 12 months.
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