GM and Ford UAW workers can't revel in profit sharing this year

Profit sharing checks were worth thousands of dollars to union autoworkers in past years, but the profits to share are dwindling here in North America. In an unfortunate but expected announcement, GM and Ford have both said that they didn’t meet the necessary profit goals to offer their employees profit sharing checks this year, the first time in four years that the automakers have been unable to cough up. After news of pending layoffs, huge losses and plant closings, the blow is particularly powerful.

By Erin Mays
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Profit sharing checks were
worth thousands of dollars to union autoworkers in past years, but the profits to share are dwindling here in North
America. In an unfortunate but expected announcement, GM and Ford have both said that they didn’t meet the necessary
profit goals to offer their employees profit sharing checks this year, the first time in four years that the automakers
have been unable to cough up. After news of pending layoffs, huge losses and plant closings, the blow is particularly
powerful.

Chrysler workers, on the other hand, should receive around $1,500 on average thanks to strong
profits and increased sales.