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FCA, CNH Industrial Sign 4-Year Labor Pact
Fiat Chrysler Automobiles NV and CNH Industrial NV have signed labor agreements with Italian unions that introduce a bonus plan linked to company efficiency and profitability goals, Reuters reports.
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Fiat Chrysler Automobiles NV and CNH Industrial NV have signed labor agreements with Italian unions that introduce a bonus plan linked to company efficiency and profitability goals, Reuters reports.
The pact covers the combined 85,000 workers employed by the two companies in Italy. Fiat SpA created CNH in 2013 by merging its CNH farm machinery unit and Fiat Industrial truck operations.
Employees of the two companies could earn bonuses worth as much as €10,700 each over four years if the targets are reached. FCA introduced the same scheme for its Italian carmaking operations earlier this year.
Unions signing the agreement included members of the Associazione Quadri e Capi Fiat and FIM-CISL, FISMIC, UILM-UIL and UGL Metalmeccanici. Italy's militant FIOM union, which has opposed the company's efforts to modify work rules, did not participate in the talks.
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