Stellantis has announced that UAW-represented employees will receive a profit-sharing payment of $14,760 on March 10th, 2023, based on their individual compensated hours, as a result of the company’s successful financial performance in 2022. The payment is eligible for approximately 40,500 employees.
Mark Stewart, Stellantis North America COO, attributed the company’s strong 2022 second-half and full-year financials to the valuable contributions made by the UAW-represented workforce. He expressed his pride in the team’s commitment and determination in pursuing the company’s new vision, despite the challenges they encountered last year.
Since 2009, U.S. hourly employees have received an average of more than $74,220 in profit sharing, and under the current labor agreement, they will receive $37,440 with this payment.
The 2022 profit-sharing payment was calculated based on the terms negotiated in the 2019 UAW/FCA Collective Bargaining Agreement, which uses the year-end Adjusted EBIT margin of the North American region reported in Stellantis N.V.’s year-end financial results.