Stellantis Announces 2020 Profit Sharing Payment for UAW-Represented Employees

Rhea-AI Summary

Stellantis announced a profit-sharing payment of $8,010 for UAW-represented employees, set to be distributed on March 15, 2021, based on compensated hours worked. Approximately 43,000 employees are eligible. This payment reflects a performance-based calculation tied to the 2019 UAW-FCA Collective Bargaining Agreement and Stellantis’ financial results from 2020. Since 2009, U.S. hourly employees have averaged over $44,700 in profit-sharing distributions.

Positive

• Profit-sharing payment of $8,010 reflects strong financial performance.
• 43,000 eligible employees benefit, enhancing employee satisfaction and retention.
• Average profit-sharing of over $44,700 per employee since 2009 demonstrates a commitment to rewarding workers.

Negative

• None.

AUBURN HILLS, Mich., March 3, 2021 /PRNewswire/ -- As a result of FCA's financial performance in 2020, Stellantis announced today that the eligible profit sharing amount of $8,010 will be paid to UAW-represented employees on March 15, 2021. Actual payments will be based on individual compensated hours. Approximately 43,000 employees are eligible to receive the payment.

With this payment, U.S. hourly employees have received on average more than $44,700 in profit sharing since 2009.

The 2020 profit sharing payment was calculated on the terms negotiated as part of the 2019 UAW-FCA Collective Bargaining Agreement, based on the year-end Adjusted EBIT margin of the North American region reported in the FCA legacy operations financial results. 

Stellantis
Stellantis (NYSE: STLA) is one of the world's leading automakers and a mobility provider, guided by a clear vision to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Group's rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the brands with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest, while creating added value for all stakeholders, as well as the communities in which it operates. 

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SOURCE Stellantis

FAQ

What is the profit-sharing amount announced by Stellantis for UAW employees?

Stellantis announced a profit-sharing payment of $8,010 for UAW-represented employees.

When will the profit-sharing payment be distributed to Stellantis employees?

The profit-sharing payment will be distributed on March 15, 2021.

How many employees are eligible for the profit-sharing payment from Stellantis?

Approximately 43,000 employees are eligible for the profit-sharing payment.

What has been the average profit-sharing amount for Stellantis employees since 2009?

U.S. hourly employees at Stellantis have averaged more than $44,700 in profit sharing since 2009.