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Top related persons:
Carlos Tavares - 3 Stellantis - 3 Tavares - 3 He's - 2 headcount - 1 excessiveness - 1 – Stellantis - 1 Massimo Pinca - 1
Top related locs:
Italy U.S Leapmotor Hangzhou China's Zhejiang province Auburn Hills Mich AUBURN HILLS
Top related orgs:
CNBC - 4 Fiat Chrysler - 3 U.S - 2 PSA Groupe - 2 New York - 2 University of California - 2 DETROIT – - 1 Automotive News - 1

Search resuls for: "excessiveness"


10 mentions found


☆ Stellantis to offer broad buyouts to U.S. salaried workers, warns of possible layoffs
  + stars: | 2024-07-30 | by ( Michael Wayland | ) www.cnbc.com   time to read: +3 min
CEO of auto giant Stellantis Carlos Tavares speaks to journalists during a joint media event by Stellantis and Leapmotor in Hangzhou, in eastern China's Zhejiang province on May 14, 2024. DETROIT – Automaker Stellantis plans to once again reduce its U.S. employee headcount through a broad voluntary buyout, as the company attempts to reduce costs and boost profits. The company, which reported disappointing first-half results last week, said if not enough employees participate in the buyout program, involuntary terminations could follow. Stellantis confirmed the buyout program, which was first by Automotive News, early Tuesday afternoon. Stellantis last conducted a voluntary buyout program in November, offering the deals to roughly half of its U.S. white-collar employees.
Persons: Carlos Tavares, headcount, Stellantis, excessiveness, Tavares Organizations: DETROIT –, U.S, Automotive News, Fiat Chrysler, France's PSA Groupe, CNBC Locations: Leapmotor, Hangzhou, China's Zhejiang province, Italy
☆ Stellantis has achieved $9 billion in cost reductions from merger
  + stars: | 2024-06-13 | by ( Michael Wayland | ) www.cnbc.com   time to read: +1 min
Stellantis CEO Carlos Tavares speaks to media on June 13, 2024 following the company's investor day at its North American headquarters in Auburn Hills, Mich.AUBURN HILLS, Mich. – Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021, CEO Carlos Tavares said Thursday. That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger that formed one of the world's largest automakers. Cost-saving measures have included reshaping the company's supply chain and operations, as well as headcount reductions. Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Several Stellantis executives described the cuts to CNBC as difficult but effective.
Persons: Carlos Tavares, – Stellantis, Tavares, Stellantis Organizations: Fiat Chrysler, PSA Groupe, CNBC Locations: Auburn Hills, Mich, AUBURN HILLS, U.S, Italy
☆ At Stellantis investor day, cost cuts and China come into focus
  + stars: | 2024-06-12 | by ( Michael Wayland | ) www.cnbc.com   time to read: +6 min
Massimo Pinca | ReutersDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. "We are not in the race to transition to EVs, but in a race to cut cost on EVs," Tavares said in late May during a Bernstein investor conference. The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight. "The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.
Persons: Carlos Tavares, Massimo Pinca, Tavares, " Tavares, Stellantis, Ned Curic, EVs, I've, Natalie Knight, David Dee Delgado, Ram, China's, Patrick Hummel Organizations: Reuters DETROIT, Atlantic, PSA Groupe, Fiat Chrysler, Ram, CNBC, Amazon, New York, Auto, Reuters, Cox Automotive, UBS, GM, Ford Locations: Turin, Italy, U.S, Auburn Hills , Michigan, Manhattan , New York, China
☆ Should Elon Musk be paid $56 billion? Tesla shareholders get to vote
  + stars: | 2024-05-27 | by ( David Ingram | ) www.cnbc.com   time to read: +10 min
Several investors released a joint letter this month urging fellow shareholders to vote down the package as excessive. Tesla shareholders approved the pay package in 2018, with compensation tied to Tesla's performance including its market value. And he still has time to meet goals he hasn't reached, including on revenue, because the pay package had a 10-year term. In the 440-page proxy statement explaining the vote, a committee of the Tesla board noted the "novel circumstances." Some people began sharing screenshots of their votes in April, shortly after the Tesla board announced the vote, and the deadline to vote online is June 12.
Persons: Elon Musk, The Beverly Hilton, Tesla, James Park, Musk, He's, Judge Kathaleen McCormick, McCormick, Nadya Malenko, hasn't, Ann Lipton, Lipton, — I'm, Musk's, there's, —, Rowe Price, didn't, Brad Lander Organizations: SpaceX, Tesla, The Beverly, Wall Street, University of California, CNBC, Bloomberg, Reuters, Boston College's, Tulane University, Disney, New York, Amalgamated Bank . Locations: Beverly Hills , California, U.S, Delaware, Austin , Texas, —, Los Angeles, Texas, New York City
☆ FTX top engineer testifies Bankman-Fried spent $1.13 billion on celebrities and sponsorships
  + stars: | 2023-10-16 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +2 min
She was preceded by Bankman-Fried's former close friend and college roommate Gary Wang, who was an FTX co-founder. In response to questions from Assistant U.S. Attorney Nicolas Roos, Singh said he frequently went to Bankman-Fried to voice his concerns over the company's spending. He told the court that he would tell Bankman-Fried he was "embarrassed" and "ashamed," and that the level of spending "reeked of excessiveness" and "flashiness." Bankman-Fried faces seven criminal counts related to the collapse of FTX and Alameda, including wire fraud, securities fraud and money laundering that could put him in prison for life. At the time, Singh pleaded guilty to six charges, including conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to violate campaign finance laws.
Persons: Nishad Singh, FTX's, Sam Bankman, Singh, Caroline Ellison, Gary Wang, Nicolas Roos, Fried, He's, Ellison, Gabe Organizations: Alameda Research, U.S, University of California, Facebook, Alameda Locations: Manhattan, FTX, Alameda, Bay, Bankman, Berkeley
☆ Jim Gaffigan’s Quintessentially American Comedy Gets Darker and Better
  + stars: | 2023-07-25 | by ( Jason Zinoman | More About Jason Zinoman | ) www.nytimes.com   time to read: +3 min
This set the course for a career of food jokes, with so many of them about how the cheap pleasures of eating fast food overpower our knowledge that it’s bad for us. His new special starts with a moody nighttime landscape that pans back to reveal itself as being inside a picture frame. What he doesn’t do is organize them into a thematic, coherent hour, as if he’s making a grand statement. Gaffigan’s old-school act is allergic to anything that might seem pretentious, but that doesn’t mean he doesn’t challenge himself. His new work reveals his move into more storytelling, elaborate act-outs and jokes built on deceptions (“My parents aren’t vaccinated.
Persons: Gaffigan, Jerry Seinfeld, Steve Martin, “, Jesus, They’ve, He’s, Trump, ” Organizations: Trump
☆ Electric cars I'd never buy, after driving 24 different models
  + stars: | 2023-03-29 | by ( Tim Levin | ) www.businessinsider.com   time to read: +4 min
I've driven more than 20 different electric vehicles. Those models are the the GMC Hummer EV, Nissan Leaf, and ElectraMeccanica Solo. GMC Hummer EVThe GMC Hummer EV Edition 1. Nissan LeafFast-charging the 2022 Nissan Leaf. 2023 Nissan Leaf.
☆ After driving 22 electric cars, these are the 3 I'd steer clear of
  + stars: | 2023-02-19 | by ( Tim Levin | ) www.businessinsider.com   time to read: +4 min
I've gotten behind the wheel of 22 different electric vehicles. I've enjoyed most of them, but I'd steer clear of three EVs if I was in the market for one. The GMC Hummer EV, Nissan Leaf, and ElectraMeccanica Solo have their pros, but they don't fit my personal needs. While my experiences have overall been positive, three vehicles stand out as ones I'd steer clear of. 2023 Nissan Leaf.
☆ The $107,000 Lexus LC500 is the best-kept secret on the car market
  + stars: | 2020-08-03 | by ( Alanis King | ) www.businessinsider.com   time to read: +9 min
Alanis KingThe Lexus LC500. Alanis KingThe Lexus LC500. Alanis KingThe Lexus LC500. Alanis KingThe Lexus LC500. Alanis KingThe Lexus LC500.
☆ A 38-year-old looks back on her biggest money mistake: 'I could have been nearly $40,000 richer today'
  + stars: | 2020-03-11 | by ( Bola Sokunbi | ) www.cnbc.com   time to read: +2 min
To start, if I had followed my mentor's advice and trusted Amazon CEO Jeff Bezos' relentless will to dominate the market, I could have been nearly $40,000 richer today. It wasn't enough for me to have just one handbag, so a few months later, I bought another. I started refocusing my attention on my early retirement plan and, with great difficulty, sold all my handbags through eBay and various consignment stores. Luckily, I was able to sell a few for close to what I paid for — and even more for some. Thanks to Chanel's crazy price increases, I sold that very first handbag for $5,700 (double the amount I originally paid).
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