Mexican Media Brands
Ford Profit-Sharing Payouts Jump by $2,100
Ford Motor Co.'s 45,800 members of the United Auto Workers union will receive profit-sharing checks averaging $8,300 in March compared with about $6,200 last year.
#economics #labor
Share
Ford Motor Co.'s 45,800 members of the United Auto Workers union will receive profit-sharing checks averaging $8,300 in March compared with about $6,200 last year.
The increase is tied to the 35% surge to $8.3 billion in Ford's North American pretax operating profit in 2012. This year's payout surpasses the previous record of $8,000 that Ford workers earned in 1999 under a different profit-sharing formula.
Chrysler Group LLC will pay an average of $2,250 per worker in profit sharing compared with $1,500 last year. The company's 2012 earnings report did not break out North American profit.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.