FCA Agrees to Pay UAW Ratification Bonus
Sept. 17, 2015—Fiat Chrysler Automobiles will pay United Auto Workers (UAW) $3,000 bonuses if the two parties ratify a new contract in the next few days, according to a report by Bloomberg.
The payout is smaller than workers received for approving the previous contract, but gives all members raises.
Senior assembly workers who now make $28 per hour could earn almost $30 per hour with the new contract, and newer workers could earn as much as $25 an hour after 8 years of service, according to an unidentified source for Bloomberg.
Getting raises for both groups was a key goal for UAW President Dennis Williams. Union locals will presents the details to members before they vote. Williams will look to receive similar deals from GM and Ford.
“We believe we have met the goals,” Williams said Tuesday night, according to the report. “But ultimately our membership will make the final decision.”
The specifics of the contract between Williams and Fiat CEO Sergio Marchionne were not released.
This announcement comes after an hour-by-hour extension was put on the previous existing agreement after Monday’s all night discussion between FCA and UAW resulted in no decision.