AUBURN HILLS, Mich. (WXYZ) — Stellantis union workers in the U.S. will be eligible to receive one of the largest profit-sharing amounts in decades, the company announced Wednesday.
Stellantis reported that its net profit was 13.4 billion euros in its first year. Union workers are eligible for up to $14,670 in profit sharing. According to the auto company, approximately 43,000 employees are eligible to receive payment. The company states that this is the most considerable profit-sharing amount in 35 years.
Since 2009, U.S. employees have been able to receive more than $59,000 in profit sharing, according to Stellantis. These payments are based on employees' compensated hours.
In the company's press release, Stellantis' compensation and benefits policy has a "pay for performance" approach as the company has sought challenges, including the pandemic and conductor shortages.
“Every Stellantis employee took on an extraordinary task in 2021 of combining two automakers while facing serious external challenges," said Stellantis CEO Carlos Tava, in a press release. "Our goal is that all employees benefit from the company’s profitable growth. We are pleased to reward and thank our team members for their tireless commitment.”