Letter From Mark Stewart, Stellantis North America COO, to Employees Regarding the Company's First Economic Proposal to the UAW

Rhea-AI Summary

Stellantis presents economic proposal to UAW

Positive

• Significant wage increases totaling 14.5%
• Juneteenth as a paid holiday

Negative

• None.

AUBURN HILLS, Mich., Sept. 8, 2023 /PRNewswire/ -- This has been a really good week at the bargaining table. We have made tremendous progress on hundreds of issues at the subcommittee level and I'm proud of the work our team has accomplished to get us to this point.

Today, we took an important next step in this process by presenting the UAW with our first economic proposal.

From the start of these negotiations, we have said we're committed to fairly rewarding you for your hard work and contributions to the success of the company. Today's offer includes significant wage increases in each year of the contract and, in percentage terms, this opening offer is larger than where we ultimately landed in 2019.

We wanted to share the details with you because we feel it is important to be transparent about what is currently on the table. Here are the highlights:

For Most Represented Employees:

• Wage increases in each year of the contract totaling 14.5% (no lump sums)
• Inflation protection:
• $6,000 one-time inflation protection payment in first year of the contract
• $4,500 in inflation protection payments over the final three years of the contract

For All Represented Employees: 

• Juneteenth as a paid holiday

For Supplemental and In-Progression Employees:

• Supplemental employees:
• Wage increase from starting rate of $15.78/hour to $20/hour (a $4.22/hour increase)
• In-progression employees:
• Accelerate progression timeline from eight years to six years, potentially reducing the time that employees can reach the max wage rate by 25%

This is a responsible and strong offer that positions us to continue providing good jobs for our employees today and in the next generation here in the U.S. It also protects the company's future ability to continue to compete globally in an industry that is rapidly transitioning to electric vehicles.

Because we know this is important to you and your families, we remain committed to bargaining in good faith and reaching a fair agreement by the deadline. With this equitable offer, we are seeking a timely resolution to our discussions.

Additional negotiations information can be found at https://stellantisnegotiations2023.com.

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SOURCE Stellantis