FCA US Hourly Employees To Get $6,000 Profit-Sharing Checks
02-12-19, 04:48 AM
#1
FCA US Hourly Employees To Get $6,000 Profit-Sharing Checks
Meanwhile when GM is laying off people...
https://moparinsiders.com/fca-us-hou...haring-checks/
https://moparinsiders.com/fca-us-hou...haring-checks/
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.
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.
02-12-19, 05:51 AM
#2
Lexus Fanatic
How many Costco memberships can they get with their bonuses?! (Remember Paul Ryan and the tax "cut")
That is excellent if one looks at the average salary, good for them.
Isn't it rather funny that on the evening news, it's news that "refund checks are smaller" and "price of household items are rising fast?" We knew about these last year, but they only made the news starting last week.
Anyway to be fair, GM's average profit sharing is $10,750 this year, more than FCA. So GM workers win.
https://www.freep.com/story/money/ca...gs/2747184002/
That is excellent if one looks at the average salary, good for them.
Isn't it rather funny that on the evening news, it's news that "refund checks are smaller" and "price of household items are rising fast?" We knew about these last year, but they only made the news starting last week.
Anyway to be fair, GM's average profit sharing is $10,750 this year, more than FCA. So GM workers win.
https://www.freep.com/story/money/ca...gs/2747184002/
02-12-19, 06:24 AM
#3
Lexus Fanatic
02-12-19, 06:48 AM
#4
Good point. Not only that, but, unlike some other manufacturers, FCA also has enough sense to keep their Dodge Charger and Chrysler 300 sedans in production.....they apparently aren't going anywhere. That will ensure that the workers in those plants continue to have jobs....and profit-sharing checks.
02-12-19, 06:53 AM
#5
Lexus Fanatic
02-12-19, 09:21 AM
#6
Lexus Fanatic
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02-12-19, 09:29 AM
#7
Lexus Fanatic
edit price has gone up but imagine getting a $30 off $30 from Sears, and being able to buy this with that Sears freecash. My buddy at the time was saying it's people like you who are running a once great co. into the ground
https://www.ecstuning.com/b-ecs-part...AaAjlUEALw_wcB
Last edited by Johnhav430; 02-12-19 at 09:35 AM.
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02-12-19, 09:29 AM
#8
Forum Administrator
iTrader: (2)
Let's not make this political folks. Car chat not the debate forum
02-12-19, 09:34 AM
#9
Lexus Fanatic
02-12-19, 09:46 AM
#10
Lexus Fanatic
I know nothing about the Chrysler V8, other than my bro had it in his RAM 1500 and it was like 390 HP. I don't remember him saying he had any issues with the engine (suspension yes). So personally, whether I ever get one or not, I'm glad that there's an American mfg. who still has a V8, and still has a manual. Again, I may never buy one, but I would feel a sense of loss if we basically agreed no more manuals, no more V8s, all turbo 4's and V6's. That is sad for carmaking in general imho.
02-12-19, 05:58 PM
#11
Dysfunctional Veteran
FCA has come back from the dead, and then engineer the incentives into their pricing and marketing strategy. Rest assured they make a profit on every single car and truck they sell, if they didn't they wouldn't sell them anymore. Same with every automaker.
With the strides FCA has made the last few years with overall build quality and QA/QC, the time is rapidly approaching where they will be leading the pack. In many ways, they already are.
With the strides FCA has made the last few years with overall build quality and QA/QC, the time is rapidly approaching where they will be leading the pack. In many ways, they already are.
02-12-19, 09:24 PM
#12
02-13-19, 08:39 AM
#13
Lexus Fanatic
Originally Posted by old cajun
I doubt that this is true.
02-13-19, 10:12 AM
#14
Lexus Fanatic
I agree. The FCA cash cows are the Ram and Jeep products. Their RWD cars they are very likely making big profit as well. But the smaller cars, forget it.
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