It PAYS To Be A UAW Worker At FCA — $6,000 Profit-sharing Checks To Be Distributed

Fiat Chrysler Automobiles workers will receive an average of about $6,000 in profit-sharing this year, according to figures released Thursday.

The company announced the profit-sharing total, which is to be distributed on March 8, along with its earnings for 2018.

For 2018, the company said it made $8.16 billion (7.3 billion euros) before interest and taxes, up 3 percent, with net profit of $4.08 billion (3.6 billion euros), up 3 percent, and revenues of $130 billion (115 billion euros), up 4 percent...

...The profit-sharing checks for FCA's 44,000 UAW-represented workers are up from last year's $5,500 checks, but non-management workers also got $2,000 bonuses tied to U.S. tax law changes in 2018...

qwertyfla1 - 2/8/2019 7:34:09 AM

+1 Boost

How much do they net after the mafia union extortion fees? Also if they "profit share" how come they are NOT liable for any losses as well -only fair? Funny but I didn't recall the UAW (Dog Fuckers United) contributing to the bailout packages of GM and Chrysler like the Yanks and CDN gov did so what makes these dictards so entitled?

MDarringer - 2/8/2019 8:03:06 AM

-2 Boost

Amen!!

valhallakey - 2/9/2019 11:05:01 AM

+2 Boost

That is not how "profit" sharing works. Also the unions took big cuts for the bail out, not so much the execs who immediately started getting those big bonus checks again. Glad to see profits shared with the workers. They will put it back into the economy.

CANADIANCOMMENTS - 2/8/2019 11:37:27 AM

+5 Boost

Much happier to see profits being share with the folks who make the cars than being spent on stock buyback to artificially inflate share prices.

qwertyfla1 - 2/8/2019 7:41:37 PM

0 Boost

Why is FCA sharing so much profit when all of the product lines are ancient and in desperate need of replacement? OK-they may be milking each platform to the max but this will screw them long term rendering them obsolete or is the company only being managed to appease Wall Street?

CANADIANCOMMENTS - 2/8/2019 10:09:40 PM

+2 Boost

Hard to say @QEW. It is a lot of money that's for sure. And yes they are milking the muscle car platforms for all they are worth. RAM is new. Toyota is in no rush to replace their models and it serves them very well.

MDarringer - 2/9/2019 12:11:00 AM

0 Boost

FCA got itself out of debt but the way they did it, they made the company starved for new product which will bankrupt the company. The ONLY hope that Manley has is to sell FCA to someone who need Jeep, Ram, and Dodge.

valhallakey - 2/9/2019 11:07:02 AM

+2 Boost

True, they need to quickly figure out how to expand the use of the few new platforms they have... Giulia being one of them.

MDarringer - 2/9/2019 12:21:10 PM

0 Boost

Well if my experience with the Giulia is any indication, they need to take it back for more engineering work. The one I have now lights up the idiot lights like a Christmas tree right and left then it heals itself then back. I'm definitely NOT driving it to Tucumcari next week. If Christmas on the dashboard doesn't end and end soon this will go back to being a customer courtesy car.