GO
Loading...

GM Hourly Workers Get $4,000 Bonuses: Source

A person briefed on the matter says General Motors will pay more than $189 million in profit-sharing to 48,000 hourly workers and millions more in performance bonuses for salaried employees.

Auto worker works on assembly line at GM Lansing Grand River plant.
AP
Auto worker works on assembly line at GM Lansing Grand River plant.

The person says GM factory workers will get more than $4,000 each when payments are made in March.

Bonuses for most salaried workers will be 4 to 16 percent of their base pay. But a small number could get 50 percent. GM is not giving annual pay raises.

GM made $4.2 billion in the first nine months of 2010 and is expected to post a fourth-quarter profit. The company needed a $49.5 billion government bailout to survive a 2009 bankruptcy.

The person, who asked not to be identified because employees have not been notified, says numbers will be announced Monday.

Symbol
Price
 
Change
%Change
GM
---

Featured

Contact Autos

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More