Stellantis news profit-sharing

There are approximately 38, eligible workers for the checks. The payout is a 6. The announcement was a part stellantis news profit-sharing the automaker's annual financial results based on a That is down from

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Stellantis news profit-sharing

But even before the deal was done, the auto conglomerate shared its good fortune with its employees with the "pay for performance" initiative. After strong sales last year, Stellantis will be rewarding its workers with a fat check in But it's not all good news. As the company moves toward an electric future, the company will trim thousands of jobs. In November , Stellantis announced voluntary buyout packages for 6, salaried employees in the United States. This followed an earlier announcement in April about voluntary exit packages offered to 33, US-based employees, including 31, hourly workers and 2, salaried workers. A similar situation is unfolding in Europe, where job cuts are a constant concern amid the industry's shift to EVs. In its three years since the merger, Stellantis has eliminated around 7, jobs in Italy alone. This despite the company's commitment to keeping all 14 brands alive, including Lancia. The new Ypsilon , unveiled this week, signals the rebirth of the troubled brand and marks a significant milestone as Lancia's first electric vehicle and one of 18 EVs Stellantis plans to build this year. The company aims to expand its electric offerings further, with a target of having 48 purely electric models in its portfolio by the end of Updated: Feb 15, at am ET. Adrian Padeanu. By : Adrian Padeanu. Source: Stellantis.

Warren Truck Assembly Plant.

This announcement comes as a token of appreciation for the dedication and hard work of the UAW-represented workforce, totaling around 38, individuals. The actual payments, based on individual compensated hours, will roll out on February 29, While this news brings a sense of appreciation and financial relief to many Stellantis workers, the company is also navigating through significant changes. With a pivot towards an electric future, Stellantis has announced plans to streamline its workforce. This includes offering voluntary buyout packages to thousands of salaried employees in the United States. In November , Stellantis announced voluntary buyout packages for 6, salaried employees, following an earlier announcement in April about similar packages for 33, US-based employees. While the profit-sharing announcement serves as a morale booster for Stellantis employees, the broader industry shift towards electric vehicles underscores the need for companies to adapt and restructure to remain competitive in the rapidly evolving automotive market.

There are 40, eligible workers for the checks. Profit-sharing for U. It increased slightly to This year's payouts should appear in eligible workers' March 10 paychecks, according to Stellantis. Eligible seniority employees will receive a payout based on compensated hours for That includes those slated to be laid off next week at the Jeep Cherokee plant in Belvidere, Illinois, when it's set to idle. The plant employs 1, salaried and hourly workers.

Stellantis news profit-sharing

To say was a good year for Stellantis would be quite an understatement as the automotive conglomerate achieved record results despite a challenging environment. As to what Stellantis has planned for , it intends to launch a fully electric Ram ProMaster and eight other EVs to join the existing 23 models that do away with a combustion engine. By late next year, the electric lineup will encompass 47 vehicles, with the number to grow to over 75 by the end of the decade. At the same time, it's 1 in the United States for plug-in hybrid sales. Speaking about the record profit-sharing bonus, Stellantis CEO Carlos Tavares said: "It is a fair recognition of the contribution of all Stellantis employees to make Stellantis win in a very demanding economic context. When the company does well, all employees do well — that's what our pay-for-performance culture is all about. Feb 22, at am ET. Adrian Padeanu. By : Adrian Padeanu.

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Approximately 38, employees are eligible to receive the payment. But it's not all good news. About this article. The automaker said it also will expand its share purchase plan to , employees worldwide in Email: tips motor1. The report of record profits by Stellantis has further infuriated workers who are facing a renewed cost-cutting campaign in the wake of the sellout UAW contract. Stellantis last year said it was paying 2 billion euro in performance-based benefits. That is down from Stellantis is also cutting the jobs of contract workers at its Mulhouse plant in eastern France. Instead, the company is choosing from a company-wide pool of temps who will be assigned to Toledo and rolled over without any regard to corporate hiring dates. Loading Comments

At that time, the company said it was the largest profit-sharing amount the company or its predecessors had announced in 35 years.

The payout is a 6. Jared B Feb 18, Pinned. Facebook Twitter Email. Download Video Embed Embed text. We wanted to walk out all together, but the UAW leaders robbed us of our right to strike. Adrian Padeanu. This year's payouts should appear in eligible workers' Feb. She added that no one had worked at her facility for the past seven weeks as Stellantis prepares to outsource the work. That is down from The Italian workers are standing up, and we have to fight here too. The Michigander is not only the Editor for MoparInsiders. The destruction of jobs in the US is part of a global cost-cutting campaign. They are going on 8 weeks of layoffs at the casting plant in Kokomo, Indiana, and these things are just on top of the bigger news with Warren Truck and Toledo. Ashley Wilmoth was one of temporary auto workers laid off by Stellantis after the company said it needed to improve efficiency and market competitiveness. By : Adrian Padeanu.