General Motors hourly employees receiving record-breaking profit-sharing checks
(CBS DETROIT) - Big profits are resulting in big record-breaking bonuses for General Motors hourly employees next month.
Hourly employees who worked 1,850 compensated hours will receive a full profit-sharing check of $14,500. This is the highest profit-sharing amount GM has ever paid hourly employees and the highest of Detroit's Big Three automakers.
GM CEO Mary Barra released the following statement that reads in part:
"Our employees and owners are all sharing in our success. I'm pleased to share that our global salaried team has earned strong performance bonuses, and our U.S. hourly employees once again earned the industry's highest profit sharing, totaling more than $640 million."
Hourly employees said the bonus is well-deserved and will be well spent.
"It's exciting," said Ann Swope, a UAW member and GM employee at Powertrain in Romulus. "And with that, we can help our communities more. We have charity events we sponsor throughout the year, and we have a lot of mandatory Saturdays, and we're missing a lot of family time, so this gives us a chance to make up for some of that."
Ford Employees will receive a profit-sharing check of roughly $10,416 pretax. Stellantis employees who qualify will receive a profit-sharing check of $13,860 pretax.