Stellantis UAW Workers Face 73% Decline in Profit Sharing

Stellantis announced that UAW employees will receive significantly lower profit-sharing checks of $3,780 this year, a 73% decrease from last year's $13,860, due to a 70% drop in net profits. This reduction reflects the company's struggles in 2024, where it reported a net loss of $133 million in the second half of the year, while rival automakers Ford and General Motors provided much higher payouts of $10,208 and $14,500, respectively. Approximately 38,800 employees are eligible for the reduced bonuses, which are determined by the company's financial performance in North America. Despite the downturn, Stellantis remains optimistic about future growth, planning to launch 10 new products in 2025 and emphasizing progress in electric vehicle development. The profit-sharing checks are scheduled to be distributed on March 7, with amounts varying based on individual hours worked. Union leaders have expressed hope for a brighter future as the company works to improve its financial situation.