According to the auto industry on Monday, Stellantis Korea has recently begun accepting applications from employees. The program covers about 70 workers in the national sales division, which handles sales and marketing for brands including Peugeot and Jeep. There are no age or tenure limits.
The company said the process is based entirely on voluntary departures and will follow relevant laws and procedures. Stellantis last carried out restructuring in South Korea in 2023, about three years ago.
The latest restructuring is being implemented across all global regions where Stellantis operates, including South Korea.
Stellantis has said it would absorb losses of 22.2 billion euros (about 38.4 trillion won) incurred while reshaping its business amid slowing demand for electric vehicles. The move follows prolonged weakness in the EV market, including after the U.S. government tightened requirements for Inflation Reduction Act EV tax credits in October last year.
Stellantis is a global automaker formed through the merger of Fiat Chrysler (FCA) and PSA Group. It has 14 brands, including Jeep and Peugeot. Its South Korean results have also remained weak. Jeep sales in South Korea totaled 2,072 units last year, down 21% from 2,628 a year earlier. Peugeot sold 979 units, up 3% from 947.
A Stellantis Korea official said the step is part of a global efficiency strategy and a restructuring program being pursued simultaneously in key regions, including South Korea. The official said the company’s domestic business operations will not be affected.
* This article has been translated by AI.
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