Great News For GM's Workers

[Gorehamj]

John Goreham
Contributing Writer, GM-Trucks.com
2/5/2016

Those of us that grew up in a union household know that overtime pay, shut-down overtime pay and annual profit sharing bonuses mean a lot to a family. For about 50,000 families in the U.S., GM's huge $6.3 billion in profits last year means that workers that worked their full-time shifts will receive $11,000 in profit sharing. This is the largest profit sharing check the UAW workers will have received in a long time.

 

Under the current contract, GM's workers represented by the United Auto Workers max out at about $29 per hour. That is roughly $60K in earnings per year before overtime. This $11,000 bonus is ,therefore, about 20% of each worker's annual pay.

 

For details on the contract recently ratified, please see out prior story.

News Source Credit - Detroit Free Press.