Marchionne: Chrysler's hourly employees to get $1500 bonuses early

FEBRUARY 7, 2012 AT 10:42 AM
Marchionne: Chrysler's hourly employees to get bonuses early
BY BRYCE G. HOFFMAN THE DETROIT NEWS


Chrysler Group LLC CEO Sergio Marchionne praised the spirit of cooperation between his company and its factory workers in the United States and said hourly employees will receive their annual profit-sharing bonuses a month earlier than expected in a message to local union leaders late Monday.

"In 2011, we demonstrated that outstanding results can be achieved when we bring together clear objectives, strong motivation, and enormous passion," Marchionne said in the email, a copy of which was obtained by The Detroit News. "Therefore, it is my pleasure to recognize you with this payment, which reflects the collective achievement of our company's performance and your personal contributions in 2011."

Chrysler reported its first net profit of $183 million — its first in 15 years — last week. For the first time since 2005, it also posted an operating profit of almost $2 billion. The company's annual earnings were actually much higher, but Marchionne decided to pay back Chrysler's loans from the U.S. and Canadian governments early.

"It took an incredible team effort to bring about such remarkable results, and you should be proud," he said in his message to the United Auto Workers Monday. "Significant progress can be accomplished when we work together and our goals are aligned."

more...
http://www.detroitnews.com/article/20120207/AUTO01/202070382/Marchionne-Chrysler-s-hourly-employees-get-bonuses-early?odyssey=tab|topnews|text|FRONTPAGE