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: Mario Tennis Aces, Payday 2, and More Announced in Nintendo Direct

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".

Related Articles

  • Toyota, Mazda to build $1.6B joint plant in Alabama

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

    In Montgomery, Hyundai Motor Manufacturing Alabama produced 328,400 cars and SUVs during 2017, along with 620,159 engines. We asked our Facebook audience why they think Toyota and Mazda passed over North Carolina for an auto production plant.
    Supreme Court crisis: Political leaders across parties express concern, call for probe

    Supreme Court crisis: Political leaders across parties express concern, call for probe

    It is an extraordinary event in history of the judiciary, we are compelled to call this press conference: Justice Chelameswar 6. Justice Desai and I served as judges of the Supreme Court together for a while".
    It's Coming! OnePlus 6 With Snapdragon 845 Launching In June 2018

    It's Coming! OnePlus 6 With Snapdragon 845 Launching In June 2018

    We've reached to OnePlus to see if the company is in talks with Canadian carriers and OnePlus has declined to comment. If the company plans on sticking to its release schedule from previous year , the OnePlus 6 could arrive in June.
  • Eden Hazard says he WILL sign new Chelsea contract - on one condition

    Eden Hazard says he WILL sign new Chelsea contract - on one condition

    That's the aim, as long as the club keep doing that then, yeah, I'm happy here'. Hazard has made 18 Premier League games, scoring six goals so far this season.
    The Golden Globes Speech That Should've Been Given

    The Golden Globes Speech That Should've Been Given

    In an exchange with fellow Weinstein accuser Asia Argento, she said: "I have no time for Hollywood fakery, but you I love". By the end of the night, the Internet was praising her as the queen she is and calling for her to run for president.
    Ecuador granted citizenship to Assange in December

    Ecuador granted citizenship to Assange in December

    Sweden dropped the charges in May 2017, but Assange remains the subject of a United Kingdom arrest warrant. Ecuador's Foreign Minister Maria Fernanda Espinosa said she hopes to find a solution to the Assange issue.
  • Cavs without answers after 'ugly' lopsided loss

    Cavs without answers after 'ugly' lopsided loss

    Boston can't do it two years in a row, due to league rules, so it's just Cleveland Toronto is jockeying with for that honour. After a tight first quarter, the Raptors onslaught began in the second quarter, outscoring the Cavs 35-16 in the period.
    Trump's Britain Visit Canceled

    Trump's Britain Visit Canceled

    London Mayor Sadiq Khan said Trump finally got the message that he was unwelcome in the U.K, which is why he canceled his visit. Mr Trump accepted the Queen's invitation for an official state visit when Theresa May met him previous year . "Bad deal.
    World waits for USA  to announce decision on Iran nuclear deal sanctions

    World waits for USA to announce decision on Iran nuclear deal sanctions

    Iran hawks worry that the IAEA won't even ask for such an inspection, fearing a confrontation with Iran. Iran has been looking to Europe for support ever since Trump started to threaten the nuclear deal .
  • Amber Alert suspect dead after shootout with Charlotte police; officer injured

    Amber Alert suspect dead after shootout with Charlotte police; officer injured

    He was detained and transported to the Carolinas Medical Center- Main where he later died due to his injuries. "Slow the traffic. An officer was shot and injured in the shooting at the Charlotte-Mecklenburg Police Department Law Enforcement Center.
    Hollywood celebs strut their stuff at the Critics Choice Awards

    Hollywood celebs strut their stuff at the Critics Choice Awards

    Olivia started, "At this time, my friend Niecy Nash and I would like to make a toast to all the good guys in Hollywood". This is just the second red carpet Cuoco has walked with her fiancé Karl Cook since the pair got engaged in November .
    Uber Used Another Secret Software Program to Evade Police

    Uber Used Another Secret Software Program to Evade Police

    Those who knew about the software nicknamed it Ripley, after Sigourney Weaver's flamethrower-wielding hero in the Alien movies. The company used it at least two dozen times in situations with authorities in foreign countries, according to Bloomberg .