Automaker Stellantis to offer buyouts amid electric vehicle transition

Another automaker is trying to cut its workforce to trim expenses and stay competitive as the industry makes the long and costly transition to electric vehicles.

Stellantis on Wednesday said it's offering buyouts to groups of white-collar and unionized employees in the U.S., as well as hourly workers in Canada.

The cuts are in response to today's increasingly competitive global market conditions and the necessary shift to electrification, the company said in a prepared statement.

Stellantis said it's looking to reduce its hourly workforce by about 3,500, but wouldn't say how many salaried employees it's targeting.

The company has about 56,000 workers in the U.S., and about 33,000 of them could get the offers. Of those, 31,000 are blue-collar workers and 2,500 salaried employees.

Another 8,000 union workers in Canada also will get offers, the company said.

Stellantis, formed in the merger of Fiat Chrysler and France's PSA Groupe, says in a statement that it's reviewing its North .