Performance Bonuses Coming To GM White-Collar

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.

Comments

One Comment

  1. A Michigan Resident says:

    American experienced auto engineers earn their pay and reward. Their creativity and innovation can insure corporate longevity and a Michigan economy.

  2. A GM retiree says:

    It is good to see the GM salaried workers compensatied as well as the hourly. I only hope that the “GREED” factor of capitalism does not run rapid as it did during the Rober Smith era. Bonuses are applicable when an organization is making a profit, but are absurd when a company is losing money. Rewards should only be initiated for good performance, not for failure or imcompetiece.

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