General Motors Co. will deliver its largest profit-sharing payouts ever to employees next month ― up to $12,750 this year to about 42,300 eligible hourly workers, according to the company's financial results released Tuesday.
Employees will receive their share in their Feb. 24 paychecks. For every $1 billion GM makes in North America, the automaker's U.S. employees receive $1,000, according to the GM/United Auto Workers agreement. GM made about $13 billion in North America in 2022.
"We earned record EBIT-adjusted of $14.5 billion and our eligible U.S. hourly employees earned record profit sharing totaling $500 million, which brings the three-year total to $1.2 billion," GM CEO Mary Barra said in a letter to shareholders. "Their hard work helped us deliver industry-leading initial quality and meet strong customer demand."
