Chrysler Group LLC announced Friday its UAW-represented
employees would receive the second half of their $3,500 ratification bonus on
December 21st. This payment waives the financial threshold stipulated in the
Collective Bargaining Agreement which would not allow a potential payment until
the first quarter of 2013.
According to the national contract Chrysler Group made with the UAW in October 2011, UAW members were to be given a $3,500 ratification bonus divided equally in two payments. The first payment of $1,750 was to be paid upon ratification. The second $1,750 payment was to be given if set financial goals were reached in the period of four consecutive quarters. Chrysler Group says that it's waiving the financial goal requirement because of the dedication its hourly workforce shows.
Sergio Marchionne, Chrysler Group Chairman and CEO wrote in a letter to employees "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." His letter continued, "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."
UAW employees eligible for the first bonus payment, approximately 26,200, will also qualify for the second payment. The bonus payment will be given in addition to the minimum $500 Quality Bonus to be paid to U.S.-represented employees on December 7th. Several facilities – Dundee Engine Plant (Mich.), Toledo Assembly Complex (Ohio) and Portland Parts Distribution Center (Ore.) – will receive $625 for keeping or reaching set WCM or quality metrics. $1,000 will be given to the St. Louis Parts Distribution Center (Mo.).
General Holiefield, UAW Vice President of the Chrysler Department stated "We appreciate Sergio's and Chrysler's willingness to recognize the contributions of our members at this time of the year." Holiefield also said, "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."
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