GM Said to Offer UAW Bigger Bonus, Profit Sharing Than FCA

  • Payment for ratification said to be as much as $8,000
  • Raises would be same as Fiat Chrysler contract, person says

An employee works on a 2016 Chevrolet Camaro on the production line at the General Motors Co. (GM) Lansing Grand River Assembly plant in Lansing, Michigan, on Oct. 26.

Photographer: Jeff Kowalsky/Bloomberg
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General Motors Co.’s tentative agreement with the United Auto Workers offers hourly employees a signing bonus of as much as $8,000 and better profit sharing than the contract approved last week by union members at Fiat Chrysler Automobiles NV, a person familiar with the details said.

The GM ratification payment compares with as much as $4,000 for Fiat Chrysler workers. Wage increases will be the same as what Fiat Chrysler agreed to, said the person, who asked not to be identified because the terms aren’t yet public. The profit-sharing formula will remain the same as in the previous contract -- not the revised Fiat Chrysler formula -- which should provide bigger payouts for both veteran and second-tier workers, said the person.