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GM hourly workers get $4,000 bonuses

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GM hourly workers get $4,000 bonuses

Postby wrveres » Mon Feb 14, 2011 2:07 pm

ap wrote:General Motors Co. will pay more than $189 million in profit-sharing to 48,000 U.S. hourly workers and millions more in performance bonuses to salaried employees, according to company documents obtained by The Associated Press.

GM will pay most hourly workers more than $4,000 each as compensation for its strong financial performance last year, said a person briefed on the bonuses. The payments come less than two years after the automaker emerged from bankruptcy protection with the help of a huge government bailout. They're more than double the previous record payment of $1,775 in 1999, at the height of the boom in sales of sport utility vehicles and pickup trucks.
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Re: GM hourly workers get $4,000 bonuses

Postby Madison » Mon Feb 14, 2011 6:34 pm

Crazy how fast they go from "broke" to "bonuses for everyone". The banks did it too from what I can tell, I know I read several articles about such-and-such bank paying back their bailout money with interest already.
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Re: GM hourly workers get $4,000 bonuses

Postby urbanbreez » Mon Feb 14, 2011 6:43 pm

this is how you turn around a company and stimulate the economy. great move on behalf of GM.
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Re: GM hourly workers get $4,000 bonuses

Postby jfg » Mon Feb 14, 2011 7:06 pm

And it's going to the hourly workers who made the recovery possible. I'm for these kinds of bonuses, you don't see big corporations rewarding their workers like this anymore.
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Re: GM hourly workers get $4,000 bonuses

Postby Grounded Polo » Mon Feb 14, 2011 9:02 pm

urbanbreez wrote:this is how you turn around a company and stimulate the economy. great move on behalf of GM.


+1, no downside with this move, better to help out the middle class than line the pockets of millionaires.
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Re: GM hourly workers get $4,000 bonuses

Postby Neato Torpedo » Mon Feb 14, 2011 9:17 pm

And to think, all this wouldn't have been possible without Obama's socialist takeover of GM. }:-)
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Re: GM hourly workers get $4,000 bonuses

Postby AquaMan2342 » Mon Feb 14, 2011 9:18 pm

jfg wrote:And it's going to the hourly workers who made the recovery possible.


They're the same ones who were getting paid 60+ an hour to drive a hi-lo because the unions were able to boost their wages. The unions are just as responsible for the downfall of the auto industry as the CEOs that everybody loves to attack.
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Re: GM hourly workers get $4,000 bonuses

Postby Dan Lambskin » Mon Feb 14, 2011 10:12 pm

i dont have time to dig up the info right now, but Ford and Chrysler employees are also getting bonuses...and it's not just the hourly workers...white collar employees will see some nice bonuses as well...some as much as 50% of thier salary
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Re: GM hourly workers get $4,000 bonuses

Postby bigken117 » Mon Feb 14, 2011 10:15 pm

AquaMan2342 wrote:. The unions are just as responsible for the downfall of the auto industry as the CEOs that everybody loves to attack.


no doubt. unions protect under performing employees and force companies to pay them too much, yearly raises and bonuses when they can't afford them etc...
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Re: GM hourly workers get $4,000 bonuses

Postby jfg » Mon Feb 14, 2011 10:31 pm

Meh. If the CEO's and other management didn't have such enormous salaries, unions wouldn't have a leg to stand on when asking for those things.
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