/ Chrysler, Ford, General Motors, Industry, News / Happy with the sales results, the US big three might grow autoworker bonuses

Happy with the sales results, the US big three might grow autoworker bonuses

Linked In Share
Happy with the sales results, the US big three might grow autoworker bonuses

Good news for the folks working at GM, Ford and Chrysler, as the automakers are preparing to reward U.S. hourly workers with another huge pot of profit-sharing checks, due to North American manufacturing operations approaching peak efficiency.

The trio will next month announce specific, per-worker profit-sharing totals along with their 2013 financial results. Based on automakers’ anticipated earnings for the year, industry analysts believe more than $800 million in profit-sharing checks will go out to about 130,000 workers.

The combined per-worker total is on track to top the record of $17,875, set in 1999. White-collar workers are not part of the United Auto Worker’s profit-sharing agreement with automakers, but are likely to receive bonus payments.

In Michigan, which is home to nearly half of the Big Three’s U.S. hourly workforce, the combined payout could reach $400 million, surpassing the combined economic benefits of Super Bowl XL in 2006, which generated $274 million; the 2005 Major League Baseball All-Star Game, which brought in $52.5 million; and the recent Winter Classic festivities, which brought in about $30 million.

The latest profit-sharing formula, developed as part of contract negotiations between the Detroit automakers and the United Auto Workers in 2011, has acted as a pseudo-annual raise for longtime hourly workers, who haven’t received a yearly pay raise in a decade. Younger, less-experienced workers, who begin at half the hourly rate of veteran employees, see small wage increases based on tenure at their respective automaker.

by Aurel Niculescu (my Google+) - Monday, January 6th, 2014 - filed under Chrysler, Ford, General Motors, Industry, News. Image credit: .
Linked In Share
Related Articles
autoworkers Bonuses us


Discuss: Happy with the sales results, the US big three might grow autoworker bonuses

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Marussia also won’t race in America – Ecclestone
Marussia also won’t race in America – EcclestoneOct.25 (GMM/Inautonews.com) Marussia will join fellow F1 straggler Caterham in not racing in Austin next weekend, Bernie ...
Lotus to keep Grosjean, test 2015 nose
Lotus to keep Grosjean, test 2015 noseOct.25 (GMM/Inautonews.com) Lotus has confirmed it will test a conventional nose solution ahead of next weekend's US grand ...
Caterham can miss Austin-Brazil double header
Caterham can miss Austin-Brazil double headerOct.25 (GMM/Inautonews.com) Caterham is allowed to sit out the next two grands prix while it fights for survival. As ...
Administrator becomes Caterham team boss
Administrator becomes Caterham team bossOct.24 (GMM/Inautonews.com) The Caterham saga took another bizarre twist on Friday as an administrator became the new team ...
[VIDEO] McLaren P1 MSO spotted on the Fiorano
[VIDEO] McLaren P1 MSO spotted on the FioranoA McLaren P1 customized by MSO has been recently spotted lapping Ferrari’s famous Fiorano track. If you though that vehicles ...
Ford Focus Electric gets price cut in the U.S.
Ford Focus Electric gets price cut in the U.S.The Ford Focus Electric has received a new price cut in the United States because of poor demand. While its main rival, the ...
Test Drive: Dacia Sandero Stepway 1.5 90 HP
Test Drive: Dacia Sandero Stepway 1.5 90 HPIf you live in Europe, you don’t need an introduction to Dacia anymore – this is the affordable Renault subsidiary that ...
[VIDEO] Mercedes-Benz GLC63 AMG prototype caught on the open road
[VIDEO] Mercedes-Benz GLC63 AMG prototype caught on the open roadA prototype version of the upcoming Mercedes-Benz GLC63 AMG has been recently caught on camera while it was being tested out on ...
[VIDEO] See the world’s fastest Toyota Supra in action
[VIDEO] See the world’s fastest Toyota Supra in actionThe world’s fastest Toyota Supra has been recently spotted in action on a drag strip where it managed to shatter a lot of speed ...
Mercedes-Benz S600 Pullmann spied
Mercedes-Benz S600 Pullmann spiedOur spy photographers have managed to capture the upcoming Mercedes-Benz S600 Pullmann on camera while it was being tested out on ...
BMW i8 costs more than $200,000 on eBay
BMW i8 costs more than $200,000 on eBayThe price of a BMW i8 stands at a whopping 200,000 USD on eBay as we recently found out doing a quick search. The BMW i8 is one ...
Mercedes-Benz GLA45 AMG announced for Australia
Mercedes-Benz GLA45 AMG announced for AustraliaMercedes-Benz will be launching the GLA45 AMG performance crossover in Australia where the model in question will be priced from ...
Recall roundup: 850,000 units of the Audi A4
Recall roundup: 850,000 units of the Audi A4The German based automaker Audi has recently announced a recall for a massive 850,000 units of the A4, because of some problems ...
Ferrari LaFerrari for sale
Ferrari LaFerrari for saleAnother unit of the impressive Ferrari LaFerrari is currently looking for a new owner who will have to pay no less than 2.6 ...
Ferrari F50 gets crashed in the UK
Ferrari F50 gets crashed in the UKA Ferrari F50 supercar has been recently involved in a heavy crash in the United Kingdom after its driver lost control of the ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Dacia_Sandero_Stepway_DSC7910
Spy-Shots of Cars
ferrari f50 crash uk 1
bmw x5 concept edrive paris 1
Porsche Macan Turbo TechArt tuning 1
2015 volkswagen jetta styling accessories 1
ATS Sport 490 Stradale 1
ferrari laferrari xx 1
Spy-Shots of Cars
Spy-Shots of Cars
Spy-Shots of Cars
mercedes-benz gla 45 amg tuning brabus 1

More automotive from inautonews
A McLaren P1 customized by MSO has been recently spotted lapping Ferrari’s famous Fiorano track. If you though that vehicles which aren’t produced in Maranello aren’t allowed on the Fiorano track, think again, because one of the main rivals of the LaFerrari, the McLaren P1, has been spotted ...
read more
Inautonews Editors Section
Test Drive: Dacia Sandero Stepway 1.5 90 HP
Test Drive: Dacia Sandero Stepway 1.5 90 HPIf you live in Europe, you don’t need an introduction to Dacia anymore – this is the affordable Renault subsidiary that rocked the auto industry ...
Test Drive: Mercedes-Benz A180 CDI AT
Test Drive: Mercedes-Benz A180 CDI AT The new generation of the A-Class has been around since 2012 and its overall design is quite drastic, considering its predecessor. Now, two years ...
Test Drive: Citroen C-Elysee 1.6 HDi Exclusive
Test Drive: Citroen C-Elysee 1.6 HDi Exclusive Citroen has introduced the second generation of the C-Elysee last year. The model is smaller than the C4 and it is based on the Peugeot 301, being ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Recall roundup: 850,000 units of the Audi A4The German based automaker Audi has recently announced a recall for a massive 850,000 units of the ... NHTSA tries and fails to keep drivers informed about Takata airbag debacleThe National Highway Traffic Safety Administration issued a public warning about the potential ...
Safety Section