Fiat Chrysler Automobiles Announces $5,500 Profit Sharing Bonus For All Hourly Wage Employees

Fiat Chrysler Automobiles recently announced that they would be giving all of their hourly workers in the United States a profit-sharing bonus of $5500 after the company saw an incredible amount of success in 2017. Over the past year, the company has seen an increasingly high-profit margin which was more than anything the Fiat Chrysler Automobiles had expected. The sale of their well-known models increased considerably, and the profits almost doubled. The company saw a total profit of a remarkable $4.4 billion.

The total increase in profits was over 93% as compared to the profit margins seen in 2016. The company has always followed a system of profit sharing with all of its employees, and this time, decided to increase that amount by $500 after seeing the increase in profitability.

However, this is not the only bonus check that people working for these companies are going to be receiving. Just last month, the company came forward to announce that they would be offering their employees an additional $2000 bonus because of the shift in operation locations that the company is going to be performing their manufacturing processes from. The company recently acquired a new manufacturing unit in the United States, in the state of Michigan. This will now mainly be used for the production of RAM heavy duty vehicles. These cars were previously being manufactured at a unit in the country of Mexico, and then imported to the United States, which sometimes increased the overall costs that the company had to incur. This opening of the new unit will allow the company to save a significant amount of their manufacturing costs and will give way to more jobs within the United States. As a result of this, over 40,000 people working for Fiat Chrysler Automobiles would be receiving this bonus. The company is set to start the move somewhere during mid-2018, and hopefully, wants the entire Michigan plant to be operational by 2020.

Both the bonuses that the employees will be receiving will be clubbed together, and are likely to reach the employees somewhere around the second week of February.

The company didn’t just see incredible profits over the last year in the United States, but in other parts of the world as well. Europe and Latin America particularly saw a lot of increase in the total sales that the company was making. All of this combined is what caused the company to see the total profit margin that they had during 2017. However, the United States remains the area to being in the most amount of profits to the company. The introduction of new models and the development of older ones are some of the main reasons why Americans started to prefer the vehicles manufactured by Fiat Chrysler Automobiles, which is why they became one of the strongest sellers in the year.

One of the things that shocked the market was how Fiat Chrysler Automobiles managed to pull together the profits that they saw during the year. Even though this was one of the more profitable years for the company, the actual sales weren’t as much as they were in 2016. In fact, the company saw a decline in the total sales and saw a noticeable 8% drop in the number of cars that they managed to sell. This decline was primarily due to the decrease in market share that the company witnessed in 2017.

Fiat Chrysler Automobiles plans to move in a slightly different direction for 2018. Their aim seems to be to improve the profit margin and at the same time increase the number of vehicles sold. The company plans to do this through the introduction of new incentives for their customers to enjoy when they are purchasing their vehicles. The entry of these new incentives into the total package that the customers receive can work well in their favor, causing more customers to choose them over other brands on the market.

Analysts are also hopeful for the progress that Fiat Chrysler Automobiles is making. They are of the opinion that these incentives can significantly benefit the company and the customers who are choosing them to buy their vehicles from.

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