Stellantis UAW workforce eligible for $14,670 profit-sharing checks

[Omaha Steve]

Source: Detroit Free Press

By Eric D. Lawrence

UAW-represented workers at Chrysler-parent Stellantis are potentially in line for profit-sharing checks before taxes totaling $14,670 this year.

The amount, which Stellantis confirmed early Wednesday after it released its earnings for 2021, is the largest profit-sharing amount that the company or its predecessors have announced in 35 years, the company said in an email. Last year's check was $8,010.

The total, which puts the company's workers ahead of those at either Ford or General Motors, represents what workers are eligible for, but the specific check amounts will vary depending on hours worked. It's calculated from the company's financial performance in North America and is based on a formula included in the company's 2019 collective bargaining agreement with the UAW.

CEO Carlos Tavares noted in a news release that "employees are the heart of Stellantis. It is thanks to their continued focus on execution and excellence that we were able to achieve record results in our first year as Stellantis."

Read more: https://www.freep.com/story/money/cars/chrysler/2022/02/23/stellantis-profit-sharing-uaw-2021-earnings/6900729001/

[pwb]

1. Nice.

.

[TheBlackAdder]

2. Thanks. Passed it on to my Chrysler relative.

[Rabrrrrrr]

3. Interesting how company says publicly employees are so important (when required to pay them),

but every other moment of the year, every one of those employees is always just a hair's breadth away from being laid off or terminated because the MBA fucks who run the company don't think they're important at all, and are just a capital expense that should be minimized as much as possible.