Statement Regarding Payout of Second Half of UAW Contract Ratification Bonus

Based on first quarter earnings, Chrysler Group LLC confirms that it has met the first financial threshold toward paying the second half of the UAW contract ratification bonus to its 26,000 hourly employees.

The 2011 UAW-Chrysler Contract, ratified by hourly employees in October, provided for a $3,500 ratification bonus to be paid in two lump sums. The first lump sum of $1,750 was paid in December 2011. The contract language stipulates that the second lump sum will be paid when the Modified EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) ratio to Net Interest Expense is equal to or greater than 5 to 1 for four consecutive quarters.

Contact Information

Welcome to the FCA US media site.

Search Keywords:
Keywords to exclude:
Please Select Media Type:
Executive Bios
Executive Speeches
Fact Sheets
Media Advisories
Plant Fact Sheets
Press Kits
Press Releases
Product Pricing
Special Reports
Statement In Response
Search All News
Production Period:
Results per page:
Sort by: