[Trending News] Stellantis says UAW members could see $3,780 profit-sharing checks, a big drop from 2024

Profit-sharing amounts at Stellantis are tied to the company’s financial performance in North America.
Last year, UAW members at Stellantis were potentially in line for checks of $13,860.

UAW members working at Stellantis could see profit-sharing checks this year of $3,780, a drop of almost 73% from last year, which the union’s president called a “slap in the face.”

The company announcement came early Wednesday, shortly after the automaker said it made $5.8 billion in net profit in 2024 but saw a net loss of $133 million for the second half of the year. The company’s profit-sharing checks last year were at $13,860.

The automaker, which is now searching for a new CEO after the resignation late last year of Carlos Tavares, faced a range of struggles in 2024, including down sales and high inventories.

The figure released by Stellantis puts it well behind its Detroit Three rivals and compares with $10,208 at Ford Motor Co. and $14,500 at General Motors, according to previous Free Press reporting.

Stellantis, which owns the Jeep, Ram, Chrysler, Dodge and Fiat brands, estimated about 38,800 workers are eligible for profit-sharing. The dollar figure is based on individual compensated hours so workers could see a higher or lower amount in their checks, which are scheduled to be paid on March 7.

The eligible amount is based on the company’s financial performance in North America and results from its 2023 contract with the UAW.

UAW President Shawn Fain blamed the poor results on Tavares, something he’d done numerous times before Tavares left the company. The union had been at odds with Stellantis for many months over product commitments and job losses, but the narrative changed after his departure.

“Stellantis’ profit-sharing announcement is one last slap in the face to hardworking American autoworkers at Stellantis from disgraced former CEO Carlos Tavares. While Ford and GM autoworkers saw profit-sharing upwards of $10,000, and while Tavares received millions in compensation and severance for his failed tenure as CEO, Stellantis autoworkers are getting a fraction of what they deserve because of Carlos’ mismanagement,” Fain said in a statement. “We look forward to working with the company’s new leadership to right the wrongs of the past, and we look forward to getting back to the bargaining table in 2028 and revisiting our enhanced profit-sharing proposals that make a simple point: If the executive class and the Wall Street class and the billionaire class are getting record payouts, so should the autoworkers who make this company run.”

Contact Eric D. Lawrence: elawrence@freepress.com. Become a subscriber. Submit a letter to the editor at freep.com/letters.

This is a developing story.