GM to pay some UAW workers record $12,750 in profit-sharing

[Whiner]

As shown on the Kokomo Tribune website:

Tyler Juranovich Kokomo Tribune Feb 3, 2023

Thanks to strong earnings in 2022 for General Motors, eligible hourly UAW workers will receive a record profit-sharing check as high as $12,750 later this month.

GM will pay some of its 42,300 hourly employees, including those at the Kokomo General Motors Components Holdings plant, up to $12,750 before taxes, the company announced this week. That’s the highest payout ever. Checks will go out Feb. 24, the company said.

If an hourly employee accrued 1,850 or more compensated hours during 2022, they will receive the full amount.

Hourly workers receive $1,000 per every $1 billion in annual earnings before interest and taxes, according to the UAW and GM negotiated contract. GM North America reported pretax earnings of $12.9 billion for 2022. The checks are paid out in increments of $250, which is why it is $12,750 and not $12,900, the company told the Detroit Free Press.

“UAW members have earned their share of the company’s prosperity, and this negotiated benefit reflects that contribution,” Mike Booth, UAW vice president and director of the GM department, said in a statement. “Our members are essential to the success of General Motors. UAW members bring skill, experience, and dedication to the job every day and are well deserving of today’s news.”

A voicemail left Thursday for Local UAW 292, which represented the GM Components Holdings plant, seeking comment was not returned.

[ehiatt]

The UAW can pretty much KMA PDQ IMHO.

[Denise Trimble]

It would be nice if Dealers could even negotiate their contracts with GM for the benefit of the employees! I'd maybe pay a few bucks to get in that club/union. (insert middle finger here)

[Parts007]

We get Pizza.......

[X476]

“Our members are essential to the success of General Motors. UAW members bring skill, experience, and dedication to the job every day and are well deserving of today’s news.”

What Crap

[PartsDanager]

We get Pizza.......

.... Y'all are getting pizza?

no fair.

[AlanHomes]

We get a pack of nabs from the Lance machine

[Denise Trimble]

This just in: "GM offers voluntary buyouts to US salaried workers..........."
https://finance dot yahoo dot com/news/gm-offers-voluntary-buyouts-to-us-salaried-workers-expects-15b-charge-182645966 dot html

In the accompanying video, they're calling this a "Performance Calibration"