Approximately 44,000 UAW-represented FCA US employees will be receiving average profit-sharing payments of $6,000, based on FCA US’ financial performance in 2018. Employees will receive the payment of the profit-sharing funds on March 8th, 2019.
According to FCA, U.S. hourly employees have received on average more than $29,000 in profit-sharing since 2009.
As negotiated in the 2015 FCA US LLC-UAW Collective Bargaining Agreement, the 2018 profit-sharing payment is based on the adjusted EBIT margin performance of the North American region reported in the FCA N.V. financial results and on individual compensated hours.
UAW Vice President Cindy Estrada, head of the union’s FCA department, said in a statement, “We look forward to working with FCA for continued success in building great union-made vehicles here in the United States long into the future.”
Last year, FCA US paid its 40,000 hourly UAW employees profit-sharing checks averaging about $5,500 for the their financial performance in 2017. In total, FCA has invested more than $10 billion and created nearly 30,000 new jobs in the U.S. since 2009.