GM profit sharing checks average $8,000 for hourly workers
(2/5/2020) - Despite the longest GM strike in half a century, the company still made billions in profits.
Now workers are getting a share of those profits.
Nearly 50,000 hourly GM workers are getting an $8,000 profit sharing bonus. Workers say they're grateful for their bonus checks and they plan to give back to those who helped them during the strike.
"It's a big thing, especially coming off of a six-week strike. It is a big deal to a lot of people in the plants. A lot of people were struggling. It's definitely going to help them get ahead of the game," said Swartz Creek auto worker Anthony Davis.
In the past couple of years, GM has slashed costs by restructuring. Several plants were closed and the company cut its white collar workforce by roughly 8,000 employees.
The extra money will not just support employees, but local businesses that took a hit to their bottom line.
"Speaking for myself and many other business owners, we will reap some of the benefits of that, because we're in the economic area they are going to spend some of that money," said Khirfan's Market owner Brad Khirfan.
His store is located a stone's throw from GM's Flint manufacturing complex and took a significant hit in business while United Auto Workers members were on strike for 40 days from September into October.
"The ones that were out bringing the free food and honking and waving, we remember that. Those are places we're going to take our eight thousand dollars and go spend there," said Montrose auto worker Courtney Patterson.
That bonus will also come in handy for other needs.
"My daughter is going to Michigan State. So, she starts in the fall, so, I'm saving for college. So, it's going to be a big chunk to put down on that," Davis said.
Ford workers will get about $6,600 in profit sharing bonuses while Fiat-Chrysler workers find out their bonus Thursday.