This browser does not support the Video element.
Stellantis plant workers get $14,000 profit-sharing bonus - the highest in decades
Stellantis plant workers got some good news with the announcement of the largest profit-sharing checks in years.
(FOX 2) - Following a profitable 2021 in auto sales, Stellantis announced to its union employees Wednesday that workers would get up to $14,670 in profit sharing.
Despite a semiconductor chip shortage and other global supply chain strains, Stellantis said it made a net profit of $15 billion in its first year since its merger. As a result, its 43,000 employees will be seeing thousands of dollars in bonuses.
"In spite of the many challenges we faced in 2021, we were able to deliver strong second half 2021 and total year end financials, which were a reflection of your extraordinary contributions and, importantly, results," read a letter sent to UAW employees Wednesday.
The money the automaker will be distributing back to employees is its largest in 35 years, the company said.
Payment should arrive on March 11.
The profit-sharing agreement is the result of a 2019 collective bargaining agreement.
MORE: Ambassador Bridge shutdown cost auto industry $300 million
"UAW Stellantis members are proud of the product they create every day especially during challenging environments over the past two years," said UAW Vice President Cindy Estrada in a statement. "We continue to make sure that this dedication in the face of pandemic and unforeseen parts shortages is recognized properly."
Last year, employees earned roughly $8,000 at the end of the year.