Following 9 months of negotiations, both FCA and CNH Industrial concluded a separate agreement to renew a collective agreement that runs from 2015 – 2018 and applies to 85,000 employees. It includes a new performance based compensation scheme with bonus entitlements of over 7,000 €, new rules on working hours and a new system for industrial relations. The Fiom-CGIL union did not participate in negotiations and has criticized the agreement from all fronts.
The agreement was signed with the Fim-Cisl, Uilm-Uil, Fismic, UGL metalmeccanci, and Associazione Quadri unions.
New compensation system. To avoid near zero inflation related wage rises (inflation rates being very low) the social partners have put a new compensation system in place that is based on two bonus types: one is an annual company efficiency bonus and the other is a four year profitability bonus. Inflation related guarantee has however been included for two years. The profit linked...
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