Arab Today, arab today fiat chrysler sets bonus scheme for italian workers
Last Updated : GMT 22:20:05
Arab Today, arab today
Arab Today, arab today

Fiat Chrysler sets bonus scheme for Italian workers

Arab Today, arab today

Arab Today, arab today Fiat Chrysler sets bonus scheme for Italian workers

US-Italian carmaker FIat Chrysler Automobiles
Milan - AFP

US-Italian carmaker Fiat Chrysler Automobiles (FCA) announced an incentive system for employees in Italy tied to the group's productivity and profits in a move it hopes will improve prickly labour-management relations.

FCA said in an announcement released late Thursday the scheme will pay bonuses to autoworkers tied to "productivity, quality and profitability targets established in the 2015-2018 business plan."

The proposal -- which FCA says will cost a maximum of around 600 million euros ($646 million) over the four year period -- was designed by the company executives to turn the page on traditionally adversarial relationships in Italy between labour and management by more closely associating workers with financial and business objectives.

"In recent years, FCA has had to deal with the historical remnants of a stale labour relations model which pitched capital against labour. Those days are finally gone," said FCA chief Sergio Marchionne.

"What we are proposing today is a scheme which recognises the central role that our workers play in the achievement of our 2015 - 18 strategic plan. Without them and their commitment, the plan is simply unachievable."

The scheme outlines two forms of supplementary pay beyond employees' base salary. One is tied to meeting or surpassing annual targets, while the other is pegged to specific goals set for the Europe-Middle East-Africa region.

Autoworkers will receive bonuses worth 12 percent of base pay if objectives are met, and up to 20 percent extra if targets are surpassed.

FCA said potential additional remuneration for a "middle category" skilled hourly employee over the entire four year period would total 7,000 euros if targets are fulfilled, and 10,700 if they are exceeded.

"By incentivising employees toward achievement of our strategic targets, the new compensation system represents a significant step forward,” said Marchionne.

The plan will intially cover all employees assembling cars, and a similar arrangement is being planned for workers producing components.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fiat chrysler sets bonus scheme for italian workers Arab Today, arab today fiat chrysler sets bonus scheme for italian workers

 



Arab Today, arab today
Arab Today, arab today Accessories designer reveals her new collection

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today Number of unwedded girls amounts to 2.5m

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday