Thousands of GM Employees to Get $10,000 Bonus

After punching in the numbers for last year and finding it earned an EBIT-adjusted of $10.8 billion, General Motors found itself in the position to announce a sizeable bonus to be paid to a large number of its U.S.-based employees.
GM awards workers for last year's profit 1 photo
Photo: Chevrolet
The company said in a statement released last week that 46,500 eligible hourly employees will get an up to $10,750 “profit sharing payment,” as stated in the “contractually negotiated formula between General Motors and the UAW.”

GM says that since 2010, some of its workers got bonuses amounting to $80,500. This most recent payment will be made on February 22.

“When GM delivers good business results, our eligible hourly employees in the U.S. share in the company’s success,” said in a statement 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.”

The practice of sharing profits is not uncommon in the auto industry, but only a few companies in the industry make public these payments. In Europe, Daimler is one of those who do this regularly, and this year announced a bonus of EUR 4,965 for 130,000 employees in Germany.

Back to GM, the carmaker is still struggling to find balance following the severe crisis of the late 2010s. At the end of last year, it announced three of its North American facilities - Ontario, Canada, Detroit and Warren, Ohio – will not be making any cars in 2019, and 15 percent of salaried and salaried contract staff would be laid off.

Shortly after, a $22 million investment in the Spring Hill, Tennessee manufacturing facility was announced, as a means to support the assembly of the 6.2-liter V8 engine, GM uses in some of its cars.

With all these measures in place, combined with the launch of a few new models, GM is hoping 2019 will prove to be one with “strong financial results.”
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
press release
About the author: Daniel Patrascu
Daniel Patrascu profile photo

Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories