DETROIT - General Motors will pay more than 46,000 eligible U.S. hourly employees up to $10,750 in profit sharing this year.
“When GM delivers good business results, our eligible hourly employees in the U.S. share in the company’s success,” said Mary Barra, GM’s CEO and chairman. “To build on our performance, we must continue working together to deliver strong safety, quality and productivity results.”
Since 2010, certain eligible GM U.S. hourly workers have earned more than $80,500 in profit sharing payments.
Eligible employees are scheduled to receive the payment in their Feb. 22 paycheck. The program is based on a contractually negotiated formula between General Motors and the UAW.
Earlier this week, GM said it would begin to cut $4,000 white-collar workers.
As part of its plan to cut $2.5 billion in costs, since November, GM has shed 2,300 white-collar employees with a dozen or more years of service and another 1,500 contractors. Now, 4,000 more will be laid off.
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