Fiat Chrysler to give U.S. workers US$2000 bonuses amid tax cuts

Fiat Chrysler to give U.S. workers US$2000 bonuses amid tax cuts

The company also said it's giving one-time $2,000 bonuses to 60,000 USA workers.

Fiat Chrysler is making a big investment in its Warren Truck Plant. Fiat Chrysler said the tax plan will enable the company to invest more than $1 billion in additional funds in the factory, where it will build the next generation of Ram heavy-duty pickup trucks once production shifts from Mexico in 2020.

The investment announced on Thursday is additional, the company said. Most recently, the Company announced investments totaling $3.5 billion, with the addition of 3,700 new jobs, to strengthen its US manufacturing base, and align USA capacity to extend the Jeep and Ram product lines.

That $3.5 billion investment and related actions involved production shifts at three plants in Illinois, Ohio and MI to gain capacity for the Jeep Cherokee, Jeep Wrangler and Ram Light Duty truck, as well as the introduction of three new Jeep models at plants in Ohio and MI.

More news: Toyota, Mazda to build $1.6B joint plant in Alabama

The company said that the actions were possible partially because of the passage of tax reform.

On Wednesday, Toyota Motor Corp and Mazda Motor Corp announced they would build a new $1.6 billion joint venture auto assembly plant in Alabama, drawing praise from Trump.

In addition, the firm also revealed that it would pay 60,000 of its US-based employees bonuses of $2,000 each, totalling $120mn in expenses. He also has criticized automakers for moving jobs and investment in new manufacturing facilities to Mexico and prodded them to add more auto production in the United States. In the process, it will add 2,500 jobs.

"It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the USA business environment by investing in our industrial footprint accordingly", Chief Executive Officer Sergio Marchionne said in a statement. "It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the USA business environment by investing in our industrial footprint accordingly".

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