Tag Archives: auto workers

Auto Worker Raises Bode Well for Retailers

About 60,000 autoworkers in Michigan and 148,000 nationwide will have extra cash to spend this month and next as profit-sharing checks from Detroit’s Big Three arrive.

Workers at General Motors Co. will get the biggest profit-sharing—up to a record $12,000 for 52,000 eligible US hourly workers, including about 21,000 in Michigan. Last year, GM-UAW members received $11,000 in profit sharing-checks.  

Ford Motor Co. announced profit sharing of up to $9,000 for its more than 56,000 UAW members, just behind last year’s record of $9,300. Fiat Chrysler Automobiles NV said it will pay its approximately 40,000 UAW workers an average of $5,000 in profit sharing, a bump up from last year’s $4,000.

The extra money for workers is welcomed by retailers as well. While some people will put it toward home repairs, vacation, or college bills, profit-sharing checks can help with big-ticket items.