DETROIT (Feb. 8, 2012) — Chrysler Group L.L.C. hourly and salaried workers will receive profit-sharing and performance bonuses on Feb. 10, just nine days after the auto maker reported a $183 million profit for 2011.
The company's 23,000 hourly workers will receive an average of $1,500 each, while salaried bonuses will vary. The payment to hourly workers is based on a formula negotiated last fall with the UAW and is double the amount paid to employees last year.
On Feb. 1, the auto maker said it posted net profit of $225 million in the fourth quarter and $183 million for the year on total annual revenue of $55 billion, up 31 percent from 2010.
This report appeared in Automotive News, a Detroit-based sister publication of Tire Business.