Post by Logan on Feb 7, 2017 17:35:09 GMT -6
General Motors Co. said Tuesday nearly 52,000 UAW workers will receive record profit sharing checks of up to $12,000.
Payments could cost the automaker $624 million and are slated to arrive Feb. 24. Last year, GM-UAW members received $11,000 in profit sharing checks.
Profit sharing amounts are based on GM’s North America pre-tax profit, which set a record last year at $12.05 billion. GM-UAW hourly workers receive $1 for every $1 million earned.
UAW Vice President Cindy Estrada, who heads the GM department for the union, said the workers "deserve every penny" of the bonuses.
Read more: www.detroitnews.com/story/business/autos/general-motors/2017/02/07/gm-pay-uaw-members-12k-record-profit-sharing/97583140/
Payments could cost the automaker $624 million and are slated to arrive Feb. 24. Last year, GM-UAW members received $11,000 in profit sharing checks.
Profit sharing amounts are based on GM’s North America pre-tax profit, which set a record last year at $12.05 billion. GM-UAW hourly workers receive $1 for every $1 million earned.
UAW Vice President Cindy Estrada, who heads the GM department for the union, said the workers "deserve every penny" of the bonuses.
Read more: www.detroitnews.com/story/business/autos/general-motors/2017/02/07/gm-pay-uaw-members-12k-record-profit-sharing/97583140/