Stellantis Announces Profit Sharing Payments for UAW-Represented Employees in 2022

The Payments Will Be Calculated Based On The Number Of Compensated Hours Worked By Each Individual...

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.

A UAW/FCA worker assembling a Ram 1500 Classic pickup at the Warren Truck Assembly Plant. (Stellantis).

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.

UAW/FCA workers use skillets to “marry” the chassis to the body of a Jeep® Cherokee at the Belvidere Assembly Plant. (Stellantis).

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.

UAW/FCA Employees Assembling Ram 1500s At The Sterling Heights Assembly Plant. (Stellantis).

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.

Robert S. Miller

Robert S. Miller is a diehard Mopar enthusiast who lives and breathes all that is Mopar. The Michigander is not only the Editor for MoparInsiders.com, 5thGenRams.com, and HDRams.com but an automotive photographer. He is an avid fan of offshore powerboat racing, which he travels the country to take part in.

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