General Motors-United Auto Workers employees are gearing up for a healthy sum this month. Following GM’s announcement of its financial activity, in which it reported a pre-tax profit of $11 billion, profit-sharing checks are inbound to eligible employees.
The Detroit News reports those eligible will receive their checks February 26. The agreements, which goes unchanged with the latest four-year UAW contract, allots $1 for every million dollars made in North American profit.
“UAW members will go home to their families today knowing that their hard work and innovative team work have paid off,” GM-UAW vice president Cindy Estrada said in a statement. “Through collective bargaining those UAW members eligible will receive up to $11,000 in GM profit sharing. Together, UAW members are sharing in the quality products and record sales of GM cars and trucks.”
The $11,000 profit-sharing bonuses are up a staunch $2,000 from last year’s $9,000.
Meanwhile, Ford-UAW workers expect $9,300 from its parent company, and FCA is expected to dish out $4,000 per eligible employees.