While Stellantis has just published disappointing financial results for the first half of 2025, the automotive group is back in the news in Italy. At its historic Mirafiori plant in Turin, Stellantis has launched a vast plan to "rejuvenate" its workforce, going so far as to offer €110,000 to employees willing to resign.
Delicate financial context
The results published at the end of July came as a surprise:
- Net sales of 74.3 billion euros, down 13 1TP3Q compared with the first half of 2024.
- Net loss of 2.3 billion euros, compared with net income of 5.6 billion euros a year earlier.
- Current operating income in free fall: 0.5 billion euros versus 8.5 billion in 2024, with a margin reduced to 0.7 %.
- Negative industrial cash flow: -3 billion euros.
Against this backdrop, Stellantis, already under pressure from the markets, has to restructure its plants to become more competitive.
Mirafiori: a plant in the throes of change
Until early 2025, the Mirafiori site produced both the electric Fiat 500 and the Maserati GranTurismo and GranCabrio. But production of Maserati models to be transferred to Modena plant. By the end of 2025, Mirafiori will focus exclusively on electric and hybrid Fiat 500s (and also eDCT gearboxes).
To accompany this reorganization, Stellantis launched a voluntary redundancy plan in June: 610 workers are affected throughout Piedmont, including a large proportion at the Turin site. With the average age of employees reaching 56, the company aims to renew and train a workforce "better adapted to future models".
Up to €110,000 to get away
According to Torino Cronacathe compensation offered reaches unprecedented levels: up to €110,000 for employees nearing retirement. Amounts vary according to length of service and years remaining before retirement. Some also benefit from contributions to cover their pension contributions until the end of their career.
Already 250 employees, mainly from the body shop departments, have accepted the offer at the time of the plant's summer closure. In the coming weeks, 50 workshop employees will also be leaving the site, followed by further departures scheduled between now and October.
What next?
While Stellantis has announced that "a stable, trained workforce will be needed from August onwards to support the launch of the hybrid model", the future of Mirafiori is still a matter of concern for the unions. They fear that the promised "rejuvenation" will be achieved through temporary contracts, which would create greater job insecurity.
For the time being, the plant remains closed for the summer vacations. The last employees assigned to Maserati will have to stay until September 9 to pack and transfer equipment to Modena, symbolically marking the end of an era for Mirafiori.
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The next thing you know, you'll be complaining about declining quality... Unfortunately, it's the same everywhere: the financiers are in charge, and the technicians will have to pick up the pieces if at all possible.
"A factory in full mutation"!...I'd say more like a factory in full perdition, and to think that in the past Fiat 850, 124, 127, 128, 130, 131, 132, Ritmo Croma etc etc etc used to roll off the production lines, and now there's an unfortunate and unique Fiat 500 🤔
I think way stellantis are managing legendary brand like alfa romeo is a catastrophic. To have such a legendary model like giulia and to not compete in gt championships is such a generational mistake. Second, this economic logic that everyone needs to grow in profit every year is such a nonsense.
There are no longer any automotive industries in Italy, apart from luxury sports cars. The euphoric post-war era of mass production with Italian factories is over, buried and forgotten. To the point of paying employees to leave. That's where we're at.
Stellantis
Who wants to buy a fiat that looks like a French car...frankly!!!!