GM workers to receive up to $12,000 in profit sharing payout
DETROIT – General Motors' hourly UAW workers will get a record profit sharing amount this year after the automaker earned more than $9 billion in 2016.
The hourly UAW workers are expected to receive a maximum payout of $12,000.
Details from GM:
Full-year 2016 Records:
- EBIT-adjusted of $12.5 billion, up 15.9 percent
- EBIT-adjusted margin of 7.5 percent, up 0.4 percentage points
- EPS-diluted of $6.00, up 1.5 percent
- EPS-diluted-adjusted of $6.12, up 21.9 percent
- Revenue of $166.4 billion, up 9.2 percent
- Automotive-adjusted free cash flow of $6.9 billion, up $4.7 billion
- North America EBIT-adjusted of $12.0 billion.
Fourth-quarter 2016 Records:
- Revenue of $43.9 billion, up 10.8 percent
- ROIC-adjusted of 28.9 percent, up from 27.2 percent
Based on GM North America’s 2016 financial performance, approximately 52,000 eligible GM U.S. hourly employees will receive up to a maximum profit sharing payout of $12,000.
- Ford's hourly UAW employees to get $9,000 in 2016 profit sharing
- Fiat Chrysler's hourly UAW employees to get $5,000 in 2016 profit sharing
- POLL: UAW employees, what will you do with your profit sharing money?
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