FCA announces 2018 profit sharing: Average payments of $6,000
AUBURN HILLS, Mich. – Based on the Company’s 2018 financial performance, FCA announced Thursday that it will make average profit sharing payments of $6,000 to eligible UAW-represented employees.
About 44,000 employees will receive the payment on March 8, 2019. With this payment, U.S. hourly employees have received on average more than $29,000 in profit sharing since 2009, according to a news release from FCA.
According to the automaker, this profit sharing payment is up 10 percent over 2017. Last year, about 40,000 employees recevied average profit sharing payments of $5,500 from FCA.
FCA also says, as negotiated in the 2015 UAW-FCA US LLC 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.
In total, FCA says it has invested more than $10 billion and created nearly 30,000 new jobs in the U.S. since 2009.
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