(WXYZ) - Chrysler announced Friday that it will pay UAW employees the second half of the $3,500 ratification bonus earlier than expected.
The company waived a provision outlined in the Collective Bargaining Agreement that could have held the second payment until the first quarter of 2013.
UAW employees will now receive the second half in the amount of $1,750 on December 21. The second payout was contingent upon workers meeting certain financial goals for four consecutive quarters, but the company waived the requirement in recognition of the dedication shown by its hourly workers.
"This waiver of the four-quarter requirement is made in recognition of the tremendous contribution you have all made to the performance of our facilities and to the revival of Chrysler," said Sergio Marchionne, Chrysler Group Chairman and CEO, in a letter to employees. "You have made extraordinary efforts to meet our production needs in order to satisfy the steadily increasing consumer demand for our products. You have also demonstrated a great level of commitment and cooperation in building a solid future for our company, bringing the weight of your professional and personal qualities to the achievement of our goals."
All UAW employees who were eligible for the first payment qualify to receive the second payment.
"We appreciate Sergio's and Chrysler's willingness to recognize the contributions of our members at this time of year," said General Holiefield, UAW Vice President of the Chrysler Department. "This additional money in the paychecks of UAW members is well-earned, but it doesn't just benefit them; they will spend the money in their communities, providing a well-needed boost to local economies across the country.