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Chrysler Offers Special Employee Lease Deal as Labor Pact Payout Begins

by Staff
October 6, 2003
1 min to read


While preparing to send $3,000 checks to nearly 60,000 hourly workers this week -- as part of the new labor pact recently negotiated with the United Auto Workers union -- Chrysler is hoping employees spend the money at the company store, according to a report in the Detroit News.


From Oct. 6 to November 10, Chrysler is offering most of its labor force a special one-year lease for a $2,000 lump sum cash payment -- roughly the after-tax value of the bonuses, according to the News.

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The deal applies to some 2004 versions of the Chrysler Sebring and Dodge Stratus sedans, Dodge Dakota pickup and Jeep Wrangler SUV, the Detroit News said, adding that UAW-represented employees are eligible, along with non-management white-collar workers.


The paper noted that, in one sly move, Chrysler is bidding to recapture some of the $180 million payout and boost flagging sales. Chrysler's U.S. sales fell 15 percent in September, according to the News.



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