DaimlerChrysler has announced that management and employee representatives have determined the company’s 2002 profit-sharing payments.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
For the approximately 143,000 employees of DaimlerChrysler AG in Germany, the profit-sharing payments were set at euro 1,200. It will be paid out with monthly salaries in April 2003. Approximately 86,000 eligible Chrysler Group employees in the United States will receive profit-sharing payments averaging US$ 460 this year.
DC said that the DaimlerChrysler AG bonus in Germany – which was discussed in several meetings between Management and the General Works Council – is significantly above the profit-sharing payment that would have been awarded on the calculated basis of the Agreement with the General Works Council.
DaimlerChrysler Board Member for Human Resources, Guenther Fleig, said: “The Board of Management thanks all employees for their commitment and achievements. Through this one-time profit-sharing bonus, we can give our DCAG employees in Germany an added benefit, particularly due to the profits of the Mercedes-Benz Passenger Cars as well as the Commercial Vehicles division.”
General Works Council Chairman, Erich Klemm said: “We are very satisfied with the result achieved by the negotiations. With this payment of a profit- sharing bonus, which is significantly above the amount prescribed in the Agreement with the General Works Council, corporate management has recognized the excellent performance and efforts of the workforce in the previous year.”
DC said that ‘thanks to the success of the Turnaround Plan at the Chrysler Group’, it will be giving the Chrysler Group workforce in the United States a profit-sharing payment first time since the year 2000.
Chrysler Group’s performance exceeded the original goals of the 2001 Turnaround Plan, said Dieter Zetsche, Chrysler Group President and CEO. “One year ago, some observers were sceptical that we could achieve our ambitious targets for profitability and cost reduction during 2002, much less over- achieve them.”
DC said the profit-sharing awards are also in line with the company’s collective bargaining agreements. “This represents a significant step in the turnaround of the Chrysler Group,” said Nate Gooden, UAW Vice President and Director- DaimlerChrysler Department. “It’s a testament to the hard work and dedication of all the UAW employees across the country.”
