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 GM employees to reap profit benefits

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Alley_Oop Mod/Admin
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PostSubject: GM employees to reap profit benefits   Fri Feb 17, 2012 5:41 am

GM employees to reap profit benefits

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General Motors Co.'s record annual profit is good news for its U.S. employees, most of whom will get either profit-sharing checks or bonuses over the next couple of weeks.

Some 47,500 hourly workers represented by the United Auto Workers will get checks for about $7,000 on March 2 as provided for by their union's new contract with the company.

That's more than their counterparts at Ford Motor Co. and Chrysler Group LLC received. Ford workers received about $6,200 and Chrysler workers about $1,500.

GM said its 26,000 U.S. salaried employees would also get bonuses on Feb. 29.

The amount of those checks will be based on a number of factors, including the employee's job level, salary, individual performance and the company's overall performance worldwide. All salaried employees will get 86 percent of the maximum amount they are entitled to, based on the automaker's performance last year. GM fell short of some of its internal goals.

"Individual performance is taken into account," said GM spokeswoman Lynda Messina. "It's very much a pay-for-performance type approach that also gives our employees a stake in the overall performance" of the company.

On Wednesday, GM told employees that it is retroactively increasing the payout percentages for white-collar workers, low-level managers and middle managers for 2011. Higher-ranking managers will see similar increases next year.

It also told them that it is freezing their traditional defined-benefit pension plans on Oct. 1 and moving all U.S. salaried employees to defined-contribution, or 401(k), plans.

United Auto Workers President Bob King said, "I am pleased with GM's 2011 results and know that the dedication and hard work of UAW members at GM has contributed to GM's 2011 results. Their efforts helped make GM a stronger company, which is benefiting customers, employees, communities and the many others who depend on the success of this auto company."

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PostSubject: Re: GM employees to reap profit benefits   Sat Feb 18, 2012 4:26 pm

Ahhhhh horse hockey!!!! I cant remember the last time I got a bonus after we had a government give out.
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PostSubject: Re: GM employees to reap profit benefits   Sun Feb 19, 2012 5:32 am

Don't believe I ever got a gov bailout of any kind~!!

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PostSubject: Re: GM employees to reap profit benefits   Sun Feb 19, 2012 6:00 am

That's what happens if you dont belong to one of those unions. you and I choose to work hard for our $$$$ and not rely on a convoluted system to keep your job even when you aint worth a hoot and are lazy and or stupid to keep it on your own.
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PostSubject: Re: GM employees to reap profit benefits   Sun Feb 19, 2012 6:02 am

They should play by the only rules that do not discriminate or give advantages through the government at our own tax expense!!! JMHO!!

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PostSubject: Re: GM employees to reap profit benefits   Sun Feb 19, 2012 1:53 pm

It sounds like a well derived plan. Can we try it?
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PostSubject: Re: GM employees to reap profit benefits   Mon Feb 20, 2012 7:44 am

It would not hurt to utilize it and it just might help out!!

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EXPERIENCE IS WHAT YOU GET WHEN YOU DON'T GET WHAT YOU WANTED!

There are only two defining forces that have ever offered to die for you!
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UncleFrank
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PostSubject: Re: GM employees to reap profit benefits   Mon Feb 20, 2012 9:30 am

I'm sure they dont care anymore.
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PostSubject: Re: GM employees to reap profit benefits   Mon Feb 20, 2012 6:51 pm

Probably right!!!

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EXPERIENCE IS WHAT YOU GET WHEN YOU DON'T GET WHAT YOU WANTED!

There are only two defining forces that have ever offered to die for you!
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UncleFrank
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PostSubject: Re: GM employees to reap profit benefits   Tue Feb 21, 2012 3:30 pm

Right as rain?
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