Imagine being a worker for GM and finding out your check was going to be slightly bigger this week. Pretty cool, right? Put it towards paying off the massive credit card debt you’ve accumulated or getting a new tattoo. Every penny helps. But now imagine you get that check and your extra pay is roughly $11,750. That changes the game.
General Motors made $12.8 billion in profit before taxes in the previous year, and the company has decided to give back to its union-represented workers with profit sharing checks. The company changed its manufacturing process to make a better environmental footprint and was rewarded handsomely.
GM is not settled with recent accolades and plans to keep building on its current momentum. CFO Chuck Stevens announced that the company planned on making a focus of cost reduction for another record year. The profit-sharing checks were notably larger than GM’s cross-town rivals, Ford, who gave out checks of $7,500. Fiat Chrysler also reported awarding checks of $5,500. SUVs and trucks have been in high demand in the US, and GM continues to produce high quality automobiles. The automotive industry is undergoing a change with the introduction of self-driving cars, but I think it’ll be a while before our Uber driver has the same voice as Tony Stark’s Jarvis.
[via USA Today]