Stellantis, Ferrari workers agree salary increases over 2025-2026 period

TimesLIVE

3 days ago

Italy's largest automotive groups, led by Stellantis, and unions on Friday signed an agreement for an overall 6.6% salary increase over the 2025-2026 period for their workers in Italy, further helping them cover the inflation peak in recent years.
A first 3.7% increase will take effect from this month, while wages will rise by further 2% from January next year and 0.8% from November 2026, the companies involved and metalworker unions said in separate statements.
The agreement covers more than 60,000 workers in Italy at Stellantis, Ferrari, Iveco and CNH, all of which have their roots in the former Fiat group.
No strike was called during the six-month negotiation period leading to the deal.
Workers will also receive two one-off sums of €240 (R4,865) each at the end of this month and in April next year, they said.
Friday's deal is part of a broader four-year renewal of the labour contract the companies and unions signed in 2023, which left salary adjustments for the final two years to be negotiated at a later stage.
An agreed pay increase had amounted to more than 11% over 2023-2024, when Italy's inflation topped 10%. With increases announced on Friday, the total salary boost at the end of the four-year period will amount to 18.7%, the unions said.
Gianluca Ficco of trade union UILM said that was a remarkable achievement.
It "has ensured the full recovery of (lost) purchasing power in a very difficult context, of high inflation and of crisis for the automotive industry," he said.
"We think this agreement can become an example of positive labour relations for the whole metal-mechanic sector."
Giuseppe Manca, Stellantis' HR head for Italy, said parties involved had shown a strong commitment to reaching an agreement in the context of participatory labour relations.
Manca said despite persisting uncertainties about the time frame of energy transition and EU policies, "we have together found solutions to adequately protect the interests of workers while guaranteeing the competitiveness of the company in the country".
Ferrari, Iveco and CNH also welcomed the agreement. Truck maker Iveco said the agreement came at a "considerable" economic effort for the company.