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Workers at GM, Ford to Score Nice Bonuses This Year Read more: Workers at GM, Ford to Score Nice Bonuses This Year

Posted By admin On December 23, 2012 @ 7:27 am In Money Watch | Comments Disabled

Paul Ausick
24/7 Wall St [1]
Dec 23, 2012

Profit-sharing bonuses for United Auto Workers’ members at Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM) are expected to be at least as large as last year’s payout at General Motors and larger than the year-ago bonuses paid at Ford. Approximately 55,000 GM hourly workers and 40,000 Ford employees are in line for the payments.

GM workers can expect bonuses of between $5,500 and $7,000, and Ford’s employees could receive a payment of more than $8,000 each, according to a report in The Wall Street Journal. The payments are based on a formula that gives workers a $1 bonus for every $1 million in North American operating profit at the two companies.

U.S. auto sales are on track to top 14.5 million units in 2012, up 14% over last year’s sales total. In the first three quarters of the year, GM has posted operating profit of $5.55 billion and Ford’s profit totals nearly $6.5 billion. And the fourth quarter looks good too.

Full article here [1]

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URLs in this post:

[1] 24/7 Wall St: http://247wallst.com/2012/12/21/workers-at-gm-ford-to-score-nice-bonuses-this-year/

[2] Bailout King AIG Still to Pay Millions In Bonuses: http://www.prisonplanet.com/bailout-king-aig-still-to-pay-millions-in-bonuses.html

[3] Ford Posts Loss of $8.7 Billion on Asset Woes: http://www.prisonplanet.com/ford-posts-loss-of-87-billion-on-asset-woes.html

[4] Fury at U.S. Lehman Brothers’ staff who could net £1.4bn in bonuses as UK employees face bleak future: http://www.prisonplanet.com/fury-at-us-lehman-brothers-staff-who-could-net-14bn-in-bonuses-as-uk-employees-face-bleak-future.html

[5] Goldmine Sachs: Bank’s bonuses cut to a ‘mere’ £142,000 EACH: http://www.prisonplanet.com/goldmine-sachs-banks-bonuses-cut-to-a-mere-142000-each.html

[6] Goldman Sachs set to pay £3.5bn in bonuses: http://www.prisonplanet.com/goldman-sachs-set-to-pay-3-5bn-in-bonuses.html

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