Details about the deal announced this morning between the Chrysler Group and United Auto Workers union have surfaced, and it’s apparent that the smaller, less financially stable automaker has given away the least compared to similar deals already struck with the UAW by cross-town rivals General Motors and Ford. First up is money. Automotive News reports that each of Chrysler’s hourly workers will receive at least $5,750 in bonuses and other payments under the new agreement, which still requires ratification by the union’s rank and file.
That includes a signing bonus of $3,500, which is markedly less than the $5,000 bonus offered by GM and $6,000 by Ford. AN also reports that the signing bonus will be paid out in two parts, one now and another when Chrysler “achieves financial stability.” Other available bonuses include a yearly performance bonus of $500 and another $500 if quality targets are met, as well as a $1,000 bonus for hitting “world class manufacturing metrics.” Wages for entry-level workers will also rise, with the base rate of $14 an hour increasing to $15.78 immediately and then steadily increasing to $19.28 an hour by the end of the four-year contract. Better benefits, tuition assistance and a more generous profit-sharing plan are also part of the deal.
Important: It is just a short
review of the news, for the full content (Video, Photos, Full Text)
please visit the site of origin.
The news from Autoblog.com -