Performance Bonuses Coming To GM White-Collar
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DETROIT (WWJ/AP) – Twenty-six thousand white-collar General Motors workers will get bonuses of between 4 to 16% of their base salaries this year, but some could get more than 50%.
The bonuses will be based on the performance of the worker and the company.
GM made $4.2 billion in the first three quarters of last year and is expected to post a fourth-quarter profit shortly.
The bonuses come just 19 months after GM needed a $49.5 billion government bailout to make it through bankruptcy protection.
The Associated Press contributed to this story.