General Motors will send 50,000 eligible employees a profit-sharing check of up to $11,750, the company announced Tuesday.
As the U.S. business sector continues to make America great again, the venerable automaker announced the move with its 2017 earnings report, the Detroit News reported on February 6.
UAW Vice President Cindy Estrada praised the announcement in a Tuesday statement.
“Today’s General Motors profit sharing, established under the 2015 contract negotiations, recognizes that UAW GM members’ hard work is an essential part of General Motors sales and profits,” Estrada said. “UAW members at GM negotiated a well-deserved share in the profits of their hard work and sacrifice.”
The profit-sharing is similar to but somewhat smaller than last year’s payouts of up to $12,000.
GM’s announcement comes on the heels of Ford Motor’s profit-sharing payouts of $7,500 for 54,000 employees, which was in addition to the $2,000 bonuses it paid employees because of President Donald Trump’s tax reform law.
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