DETROIT — Fiat Chrysler Automobiles has agreed to increase profit-sharing payouts by 13 percent and give less experienced hourly workers the same health care coverage as veteran employees, according to a summary of its proposed United Auto Worker (UAW) labor contract viewed by Automotive News.
The deal will also provide a typical UAW member with $29,500 in wage increases and bonuses over the next four years.
The higher payments bring Fiat Chrysler closer to the packages for UAW members working at General Motors and Ford Motor and come after the once cash-poor automaker posted double-digit profit margins in North America last quarter.
The deal includes signing bonuses of $9,000 for full-time employees and $3,500 for temporary workers; the amounts are identical to those in the union's newly ratified contract with Ford. It also lets full-time workers earn top pay after four years instead of eight, matching the contracts with Ford and GM.
FCA and the UAW agreed to dissolve their jointly run National Training Center, which has been at the center of an ongoing federal corruption probe.