MNeagle
14th February 2011, 07:17 AM
AP Source: GM hourly workers get $4,000 bonuses
Tom Krisher, AP Auto Writer, On Monday February 14, 2011, 9:05 am EST
DETROIT (AP) -- A person briefed on the matter says General Motors will pay more than $189 million in profit-sharing to 48,000 hourly workers and millions more in performance bonuses for salaried employees.
The person says GM factory workers will get more than $4,000 each when payments are made in March.
Bonuses for most salaried workers will be 4 to 16 percent of their base pay. But a small number could get 50 percent. GM is not giving annual pay raises.
GM made $4.2 billion in the first nine months of 2010 and is expected to post a fourth-quarter profit. The company needed a $49.5 billion government bailout to survive a 2009 bankruptcy.
The person, who asked not to be identified because employees have not been notified, says numbers will be announced Monday.
http://finance.yahoo.com/news/AP-Source-GM-hourly-workers-apf-3132644526.html?x=0
Tom Krisher, AP Auto Writer, On Monday February 14, 2011, 9:05 am EST
DETROIT (AP) -- A person briefed on the matter says General Motors will pay more than $189 million in profit-sharing to 48,000 hourly workers and millions more in performance bonuses for salaried employees.
The person says GM factory workers will get more than $4,000 each when payments are made in March.
Bonuses for most salaried workers will be 4 to 16 percent of their base pay. But a small number could get 50 percent. GM is not giving annual pay raises.
GM made $4.2 billion in the first nine months of 2010 and is expected to post a fourth-quarter profit. The company needed a $49.5 billion government bailout to survive a 2009 bankruptcy.
The person, who asked not to be identified because employees have not been notified, says numbers will be announced Monday.
http://finance.yahoo.com/news/AP-Source-GM-hourly-workers-apf-3132644526.html?x=0