GM bonuses expected to infuse Valley economy
The Mahoning Valley will receive a boost with profit-sharing checks coming to 3,000 workers at the General Motors Lordstown Complex.
Across the company, about 50,000 GM factory workers will get $11,750 profit-sharing checks.
“It’s fantastic that our members will be able to share in the profits of our company,” said Glenn Johnson, president of the United Auto Workers Local 1112 that represents the 3,000 GM Lordstown employees.
For every billion made in North America, workers receive $1,000, according to the UAW/GM agreement. In North America, the company reported pretax-profit of $11.9 billion, down slightly from last year’s $12.4 billion.
To receive the full $11,750, a GM employee must work a certain number of hours. Those who don’t have that amount will receive a prorated amount of profit sharing. Last year, the GM Lordstown plant had more than 10 down weeks, mostly to adjust inventory levels of its product, the Chevrolet Cruze, a compact car.
Read more about the matter in Wednesday's Vindicator or on Vindy.com.