GM Workers To Receive Profit-Sharing Bonus
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DETROIT (WWJ) – It’s yet another sign that General Motors is back in business. There’s word that workers will be getting some of the largest profit sharing checks in the history of the automaker.
The exact amount is not expected to be known before February 14, but a senior UAW official tells the Detroit News that he anticipates GM bonuses to top the average check of nearly $1,800 received by each worker back in 1999 – and that was GM’s largest payout ever.
The automaker confirms there will be a profit-sharing payout given their profits through September of $4.2 billion. It’s possible GM could top the bonuses with incentive pay to set the tone going into contract talks this summer.
Last month, Ford had payouts averaging $5,000 per worker — and Chrysler’s blue collar workers got a performance incentive check for $750 — even though the company did not turn a profit and were not bound by contract to provide any bonus.
With all three Detroit automakers doling out bonus checks once again, WWJ’s Ron Dewey reports autoworkers are a little more optimistic.
Punching in, Tuesday, at Chrysler’s Warren Stamping Plant, one worker said it’s a good sign, but there’s still a ways to go.
“They took away a lot. They took away a lot of our money and a lot of our benefits, but something… every little bit helps,” he said.
“It’s uplifting, I guess you could say,” said another Chrysler worker. “I’m happy we’re getting it… it’s not a big lump sum of money, but I’ll take it,” he said.