Chrysler workers in Windsor divided over profit sharing
Debate fuelled by latest news that GM, Ford and Chrysler handing their U.S. employees thousands
Workers at the Chrysler assembly plant in Windsor are split on what to think about profit sharing.
The debate is fuelled by the latest news in the U.S. that GM, Ford and Chrysler are handing their employees cheques worth thousands of dollars, thanks to profit sharing.
Ford workers will be handed $8,800 (all figures U.S.); GM will give its employees $7,500; and Chrysler will pay $2,500 to its workers.
Canadian workers won't be getting the same. Many are doubtful about the concept of profit sharing.
"Just the raise or even just maintaining what we got would be nice," said Karrie Taylor, a Chrysler employee. "Everything is just so tough right now, so trying to take away and trying to balance is quite different."
Another line worker, Ericka Deslippe, says it's a balance.
"Profit sharing depends on whether the company makes money and that's not a guaranteed thing," Deslippe said. "Absolutely, a raise will stay on your base wage and it keeps going up and up, and they can't take that away. Profit sharing depends on how the market is doing."
Andrej Miletic is a financial advisor at Equity Plus Mortgages in Windsor and sides with employees receiving a raise.
"For the consumer or employee, getting raises makes it easier to get credit because it's a stable source of income," he said.
On the other hand, he makes an argument for a lump sum payment.
"Once people [routinely] receive more money, they tend to spend more money. It affects savings, so the lump sum is better for savings."
Ken Lewenza, he former President of the Canadian Autoworkers Union, now Unifor, said profit sharing isn't the best way to go.
"There's no question our annual wage improvements have been the answer," he said. "We are at about a $5 differential."
According to Lewenza, that $5 per hour is proof enough to keep the status quo.