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Old 27th July 2015, 13:42   #1
Black 6050
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Default Chrysler Is Half Its Pre-Daimler Size

Chrysler Is Half Its Pre-Daimler Size

by David Zatz
7/25/2015

FCA US, what remains of the former Chrysler Corporation, is not just less profitable than in 1998, when Chrysler was the darling of the worldwide auto industry; it also employs around half as many people.

Figures released yesterday show that employment went plummeting downwards from 2000 to 2009, for both UAW hourly and UAW salaried employees (non-union employees were not mentioned). 2009, the year Fiat took over, was the turning point, with employment gaining for both hourly (from 21,823 to 36,643 people) and salaried (from 2,580 to 3,377) people.

Profit sharing is higher now than at any time since Daimler replaced the old Chrysler management. Employees got $4,300 to $8,100 from 1993 to 1999; then either nothing or small amounts every year through 2010, the highest (by far) being $1,500 in 2004. In 2011, employees took home $1,500; in 2012, $2,250; in 2013, $2,500; and in 2014, $2,750. (These are averages combining hourly and salaried employees. Starting in 2011, profit sharing was based on North America profits.)
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