GM Grants Record $14,500 Profit-Sharing Checks to UAW Workers

General Motors (GM) announced record profit-sharing payouts for 2024, with about 48,000 U.S. hourly workers set to receive up to $14,500 each, totaling $640 million. This marks a significant increase from previous years, attributed to GM's North America pre-tax profits of $14.5 billion. The company also plans to reward its global salaried workforce with bonuses based on a 144% multiplier due to surpassing earnings targets, though this process involves a new employee evaluation system that adds uncertainty for some workers. Despite financial challenges in China, GM reported record profits, leading to these substantial payouts. CEO Mary Barra highlighted that the profit-sharing reflects the company's success and commitment to its employees. Ford and Stellantis are expected to announce their profit-sharing results soon, following GM's lead in rewarding its workforce for the past year's performance.