© 2024 MICHIGAN PUBLIC
91.7 Ann Arbor/Detroit 104.1 Grand Rapids 91.3 Port Huron 89.7 Lansing 91.1 Flint
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Chrysler factory workers to get $1,500 checks

The AP reports that Chrysler workers will get bonus check next month, another sign that the once troubled automaker is turning around.
screen grab from YouTube video
The AP reports that Chrysler workers will get bonus check next month, another sign that the once troubled automaker is turning around.

DETROIT (AP) - Factory workers at Chrysler are getting $1,500 profit-sharing checks next month, a sign the automaker's turnaround is succeeding.

About 26,000 union-represented workers in the U.S. should get the payments, according to Chrysler's contract with the United Auto Workers union. The profit-sharing figure is based on an Associated Press analysis of company earnings, and the labor contract formula for profit-sharing.

Chrysler would not say how much the workers will get. But the formula in its new four-year contract with the UAW shows that the checks will be about $1,500. The checks are based on Chrysler's $2 billion operating profit for 2011, reported on Wednesday.

Chrysler reported full-year net income of $183 million, its first since 1997.

The Associated Press is an independent global news organization dedicated to factual reporting.
Related Content