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Fiat-Chrysler Workers to Get Raises, Ratification Bonus
U.S. hourly union workers at Fiat Chrysler Automobiles NV will receive $3,000 bonuses and increases in hourly pay if they ratify the tentative pact worked out between FCA and the United Auto Workers union on Tuesday, according to media reports.
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U.S. hourly union workers at Fiat Chrysler Automobiles NV will receive $3,000 bonuses and increases in hourly pay if they ratify the tentative pact worked out between FCA and the United Auto Workers union on Tuesday, according to media reports.
Veteran UAW members will get a two-step raise that will hike their hourly pay from $28 to nearly $30, the reports say. New hires, who currently start at $16.50 per hour, could reach an hourly wage of $25 after eight years compared with the current $19.28 cap.
A memo to company employees from CEO Sergio Marchionne reportedly says the scheme eventually will eliminate the two-tier wage agreed to by the UAW in the previous contract. The contract also will continue to link annual worker bonuses to company performance goals, including productivity and revenue gains.
Neither FCA nor the UAW confirm details about the pact, which has not yet been explained to affected union members. The UAW hasn't announced when its members will vote on the agreement.
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