Inactive Instrument

Fiat Chrysler Automobiles N.V. Nyse

FCAU

NL0010877643

Fiat Chrysler Automobiles NV : hikes profit sharing to $4,000

January 27, 2016 at 03:31 pm EST

(Reuters) - Fiat Chrysler Automobiles NV's U.S. arm said on Wednesday it would make profit-sharing payments of up to $4,000 to eligible employees represented by the United Auto Workers Union (UAW).

The payment represents a 45 percent increase from the $2,750 UAW-represented employees received last year, the company said.

The company said the hike in profit sharing was a result of the company's 2015 financial performance.

Fiat earlier in the day reported a better-than-expected quarterly performance in North America, the region that accounted for 85 percent of the company's 2015 profit.

The Italian-U.S. automaker said about 40,000 of its employees would receive the payment on Feb. 19.

Fiat Chrysler employed a total of 85,521 hourly and salaried workers as of Dec. 31, 2014 in North America.

(This story corrects headline to "to $4,000" from "by as much as $4,000")

(Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Maju Samuel)

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Stellantis N.V., formerly Fiat Chrysler Automobiles N.V., is an automaker and a mobility provider. The Company is engaged in designing, engineering, manufacturing, distributing and selling vehicles, components and production systems. The Company has operations in more than 40 countries and sells its vehicles directly or through distributors and dealers in more than 130 countries. It designs, engineers, manufactures, distributes and sells vehicles for the mass-market under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia and Ram brands. In addition, the Company designs, engineers, manufactures, distributes and sells luxury vehicles under the Maserati brand. The Company's brand portfolio also includes Peugeot, Citroen, DS Automobiles, Opel and Vauxhall.

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2024-06-12 - Investor Day

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CAC 40 , EURO STOXX 50 , STOXX EUROPE 600 (EUR) , FTSE MIB INDEX

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