My contacts working there say it came as a total shock to them. No warning or signs. Probably all the programs would come to a halt of half of the employees actually left.
This tactic is called “short fill”. You indicate that downsizing is coming, offer a generous buyout plan, some of the older(higher paid) employees take the deal. Result 10-15% overall workforce shrink, followed by replacement hiring of younger(lower paid) people to fill openings as they occur. Lower overall labor cost, increase profits, bingo.
My son is an engineer at Stellatis and was offered a buyout. He is strongly considering taking it and applying to a competitor. He wants to stay in the automotive industry and not get stuck working for the defense contractors like so many of his classmates.
Curious of the sentiment about the defense industries - War equipment is pretty recession proof. Is it pay?
The big running joke with engineering new grads is that you sell your soul to work for the defense industry.
Also he’s a huge anti war advocate. He did volunteer work in Yemen and saw how bad it got when Saudi Arabia and Iran were just using Yemen as their proxy war playground.