Fiat Chrysler will be moving the production of its Ram heavy-duty truck from Mexico to Michigan and giving its workforce a substantial bonus due to tax reform.
The company announced it will also be investing $1 billion in the Warren Truck Assembly Plant, where assembly of the trucks, which are currently made in Mexico, will begin in 2020. Fiat Chrysler announced it will hire 2,500 people to facilitate the move and said it will give a one-time $2,000 bonus to its 60,000 U.S. workers.
Fiat Chrysler will move heavy duty production to Michigan from Mexico, add 2,500 jobs and invest $1 billon pic.twitter.com/f1G4qNVLJP
— David Shepardson (@davidshepardson) January 11, 2018
“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 U.S. business environment by investing in our industrial footprint accordingly,” CEO Sergio Marchionne said, according to CNN Money.
The announcement adds Fiat Chrysler to a long list of companies that have announced they will give bonuses to their workforce or reinvest in their domestic businesses. Fiat Chrysler was the second company to announce such a move on Thursday, as retail giant Walmart increased its starting wage and expanded benefits.
More great news as a result of historical Tax Cuts and Reform: Fiat Chrysler announces plan to invest more than $1 BILLION in Michigan plant, relocating their heavy-truck production from Mexico to Michigan, adding 2,500 new jobs and paying $2,000 bonus to U.S. employees! pic.twitter.com/47azKD0l9B
— Donald J. Trump (@realDonaldTrump) January 12, 2018
“The company said the investment announced Thursday is separate from a 2015 labor deal with the United Auto Workers union. FCA had pledged to invest $5.3 billion in American plants to guarantee additional union jobs as part of that agreement,” according to CNN Money.