Chrysler Group LLC to Pay UAW Employees Balance of Contract Ratification Bonus
by Year End
AUBURN HILLS, Mich., Nov. 30, 2012
AUBURN HILLS, Mich., Nov. 30, 2012 /PRNewswire/ --Chrysler Group LLC
announced today that it would pay its UAW-represented employees the second
half of the $3,500 ratification bonus on Dec. 21, waiving the financial
threshold outlined in the Collective Bargaining Agreement that would not have
made a potential payment possible until first quarter 2013.
Per the national contract Chrysler Group reached with the UAW in October 2011,
UAW members were to receive the $3,500 ratification bonus in two equal
payments with an initial payment of $1,750 paid upon ratification followed by
another $1,750 payment if certain financial goals were met for four
consecutive quarters. The Company is waiving that requirement in
acknowledgment of the dedication shown by its hourly workforce.
"This waiver of the four-quarter requirement is made in recognition of the
tremendous contribution you have all made to the performance of our facilities
and to the revival of Chrysler," said Sergio Marchionne, Chrysler Group
Chairman and CEO, in a letter to employees. "You have made extraordinary
efforts to meet our production needs in order to satisfy the steadily
increasing consumer demand for our products. You have also demonstrated a
great level of commitment and cooperation in building a solid future for our
company, bringing the weight of your professional and personal qualities to
the achievement of our goals."
All UAW employees who were eligible for the first bonus payment, approximately
26,200, qualify for the second $1,750 payment. This payment is in addition to
the minimum $500 Quality Bonus that will be paid to U.S.-represented employees
on Dec. 7. Three facilities – Dundee Engine Plant (Mich.), Toledo Assembly
Complex (Ohio) and Portland Parts Distribution Center (Ore.) – will receive
$625 for maintaining or achieving certain WCM or quality metrics. The St.
Louis Parts Distribution Center (Mo.) will receive $1,000.
"We appreciate Sergio's and Chrysler's willingness to recognize the
contributions of our members at this time of the year," said General
Holiefield, UAW Vice President of the Chrysler Department. "This additional
money in the paychecks of UAW members is well-earned, but it doesn't just
benefit them; they will spend that money in their communities, providing a
well-needed boost to local economies across the country."
About Chrysler Group LLC
Chrysler Group LLC, formed in 2009 to establish a global strategic alliance
with Fiat S.p.A., produces Chrysler, Jeep, Dodge, Ram, Mopar, SRT and Fiat
vehicles and products. With the resources, technology and worldwide
distribution network required to compete on a global scale, the alliance
builds on Chrysler Group's culture of innovation, first established by Walter
P. Chrysler in 1925, and Fiat's complementary technology that dates back to
its founding in 1899.
Headquartered in Auburn Hills, Mich., Chrysler Group's product lineup features
some of the world's most recognizable vehicles, including the Chrysler 300 and
Town & Country, Jeep Wrangler, all-new Dodge Dart, Ram 1500, Jeep Grand
Cherokee SRT8 and Fiat 500. Fiat contributes world-class technology, platforms
and powertrains for small- and medium-size cars, allowing Chrysler Group to
offer an expanded product line including environmentally friendly vehicles.
Follow Chrysler news and video on:
Chrysler Group blog: http://blog.chryslergroupllc.com
Corporate website: http://www.chryslergroupllc.com
SOURCE Chrysler Group LLC
Contact: Jodi Tinson, +1-248-512-2944 (office), +1-586-219-0677 (cell),
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