In a bid to counter the impacts of surging inflation, Italy’s major automotive companies, headed by Stellantis, the producer of Fiat, signed a deal with unions on March 8, 2023, for a 6.5 per cent salary increase for their Italian employees from this month onwards.
Furthermore, beginning in January next year, wages will rise by an additional 4.5 per cent.
According to the UILM and FIM-CISL unions, who outlined the agreement, workers will also receive a one-time payment of €600 ($632), inclusive of benefits, distributed in three instalments throughout the year.
After the discussion that began at the end of October 2022, the accord was established. The said accord pertains to nearly 70,000 employees at Stellantis, Ferrari, Iveco, and CNH Industrial, all of which have their origins in the former Fiat group.
The central aspect of a broader agreement to renew four-year contracts that had ended in 2022 for the majority of Italian staff at the four firms was the implementation of pay raises to provide aid to employees affected by an increase in consumer price inflation throughout Europe.
Representatives from the UILM and FIM-CISL unions noted that the agreement met their goals of preserving the purchasing power of the employees. The accord encompasses roughly 70,000 workers at Stellantis, Ferrari, Iveco, and CNH Industrial, all of which trace their roots back to the previous Fiat group.
Discussions in October resulted in the agreement, which came as a significant boost to Italian workers in the automotive industry.
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