Unionized Stellantis workers cashing in with more profit sharing than other firms’ employees

Stellantis employees represented by the United Auto Workers are expected to get the biggest profit-sharing check in the automotive industry this year.

Stellantis, the parent company of the Ram and Jeep brands, announced that unionized employees will receive profit-sharing checks of up to $13,860. The company announced the payouts Thursday alongside its earnings report for 2023.

“As one of the highest payments in the company’s history, it clearly demonstrates that we value our employees’ contributions and are committed to rewarding them when their performance supports the company’s success,” newly minted Stellantis Chief Operating Officer Carlos Zarlenga said in a statement.

While the payouts are not the highest in Stellantis history, with employees getting a company-record $14,760 last year, it’s the highest among the big three Detroit automakers. Neither Ford nor General Motors’ payments could break $13,000, with payouts of $10,416 and $12,250 respectively.

Per the UAW’s contract with Stellantis, workers’ profit-sharing checks are calculated based on hours worked, meaning that some workers could get bigger checks. The company said the payments will go out to about 38,000 employees.

Increases in profit-sharing checks were one of the key demands of the UAW during last year’s contract negotiations. Along with wage hikes, UAW leadership consistently demanded a bigger share of company profits to improve living standards for workers and to keep pace with inflation.